CPO Futures End Slightly Higher

Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed slightly higher yesterday in line with the steady crude oil prices, dealers said. They said the market was generally quiet as most buyers were reluctant to take fresh positions before year-end. “Trading has been cautious because there were no fresh leads,” a dealer said. He said most market players were also awaiting the export figures for December and palm oil data from Malaysia Palm Oil Board, which were likely to be released next week. On the futures market, January 2010 rose RM1 to RM2,531 per tonne and February 2010 increased RM7 to RM2,573 per tonne, while both March 2010 and April 2010 gained RM5 each to RM2,595 per tonne and RM2,601 per tonne, respectively. Turnover declined to 6,416 lots from 9,694 lots on Tuesday while open interest increased to 83,552 contracts from 83,093 contacts previously. On the physical market, January South fell to RM2,540 per tonne from RM2,550 per tonne on Tuesday. Source : Business Times

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