CPO Futures Firmer on India Demand

PRICES on the crude palm oil (CPO) futures market closed higher

yesterday, supported by demand from India for the commodity, dealers

said.

One of the dealers said that there was lower demand for the

commodity from China.

At close, the July 2010 contract month

rose RM2 to RM2,452 per tonne, August 2010 increased RM5 to RM2,409 per

tonne, September 2010 added RM7 to RM2,384 per tonne and October 2010

gained RM10 to RM2,375 per tonne.

Volume rose to 13,938 lots from 12,268 lots on Tuesday while open

interest declined to 76,705 contracts from 78,095 contracts previously.

On

the physical market, June

South dropped RM10 to RM2,480 per tonne.

Source: Business Times

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