CPO Futures End Slightly Steadier

Crude palm oil futures contract on Bursa Malaysia Derivatives ended slightly higher on renewed interest from China, dealers said.

Trading was however cautious ahead of the weekend and coming holidays.

“Continued heavy rain in central and southern oil palm growing states in the country also encouraged many investors to take on new positions,” said a dealer.

At the close, both December 2009 and January 2010 each rose RM7 to RM2,441 per tonne and RM2,494 per tonne, respectively.

February 2010 increased RM9 to RM2,530 per tonne while March 2010 added RM17 to RM2,537 per tonne.

Turnover was reduced at 13,327 lots from 20,308 lots on Thursday while open interest declined to 85,822 contracts from 86,950 contracts, previously.

On the physical market, December South rose RM20 to close at RM2,460 per tonne. Source: Business Times

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