CPO Futures Higher Due to Fresh Buying

CRUDE palm oil (CPO) futures on the Malaysia Derivatives Exchange

closed higher yesterday backed by fresh buying from traders, dealers

said.

The futures market was also supported by

expectations of raising exports ahead of the festive season soon, a

dealer said.

At close, June 2010 rose RM2 to settle at RM2,535 a

tonne, July 2010 fell RM4 to RM2,505 , August 2010 rose RM8 to RM2,468

and September 2010 rose RM13 to RM2,445.

Volume went up to 15,499 lots from 9,917 lots recorded on Tuesday while

open interest was at 68,662 contracts, lower than the 68,982

previously.

On the physical market, June South was unchanged at

RM2,560 . – Bernama

Source : Business Times

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