CPO Futures Continue Uptrend

Crude palm oil futures (CPO) prices on Bursa Malaysia Derivatives closed steadier on anticipation that the Malaysian Palm Oil Board (MPOB) and oil palm cargo surveyors will announce a set of favourable export data, a dealer said.

She said MPOB was scheduled to release its export data for February on Monday.

March 2012 surged RM45 to RM3,335 per tonne, April 2012 rose RM47 to RM3,357, May 2012 increased RM49 to RM3,352 while June 2012 added RM41 to RM3,334 per tonne.

Volume increased to 26,245 lots from 19,528 lots on Thursday while open interest rose to 124,767 contracts from 124,015 contracts previously.

On the physical market, March South increased RM40 to RM3,330 a tonne.

Source: Business Times

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