THE crude palm oil (CPO)futures contracts on Bursa Malaysia Derivatives closed higher yesterday, in line with the firmer crude oil prices, dealers said. They said crude oil prices are expected to trade higher due to the political unrest in Libya.
Another dealer said CPO prices are expected to trade higher during the three-day Palm and Lauric Oils Conference & Exhibition Price Outlook 2011-2012 which began yesterday.
March 2011 and April 2011 rose RM41 each to RM3,750 and RM3,730 a tonne while May 2011 and June 2011 gained RM35 to RM3,695 and RM3,665.
On the physical market, March South rose by RM60 to RM3,770 from RM3,710 last Friday.
Source : Business Times