CPO Futures Expected to Trade Higher


Crude palm oil futures on Bursa Malaysia Derivatives are expected to

trade higher next week on expectations of lower production, dealers

said.

Industry regulator, the Malaysian Palm Oil Board, is due to release

the export, output and stock figures for March on Wednesday.

During the week just ended, the market saw rangebound trading due

to bearish external markets. Most of them, including the palm oil market

in top producer Indonesia, were closed yesterday for Good Friday.

On a Friday-to-Friday basis in the local market, the April 2010

contract rose RM6 to RM2,605 per tonne, May 2010 added RM6 to RM2,571,

June 2010 increased RM25 to RM2,559 and July 2010 inched up RM25 to

RM2,546.


Total turnover rose to 79,674 lots from 63,462 lots while open

interest increased to 83,116 contracts from 78,501 contracts.

On the physical market, April South stood at RM2,600 per tonne. —

Bernama

Source : Business Times

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