KUALA LUMPUR: Crude palm oil (CPO) futures contracts closed sharply higher yesterday, boosted by favourable export data released by cargo surveyors.
A dealer said the data showed an export trend that reflected improved demand prospects, which is positive for CPO prices.
Cargo surveyor Societe Generale de Surveillance said that exports of Malaysian palm oil products for Feb 1-25 gained 4.5 per cent to 989,868 tonnes.
March 2012 rose RM23 to RM3,255 per tonne, April 2012 gained RM4 to RM3,264 and May 2012 added RM7 to RM3,283 per tonne. Bernama
Source: Business Times