CPO Futures Higher

CRUDE

palm oil (CPO) futures prices on Bursa Malaysia Derivatives ended

mostly higher yesterday on expectations of higher exports for September,

said dealers.

They said China and India, among the biggest

buyers of Malaysian palm oil, are expected to build up their stocks

prior to the holiday season to meet demand.

Export monitors

Societe Generale de Surveillance (SGS) and Intertek Agri Services’ will

release the September 1-30 Malaysia export data soon, a dealer said.

On Monday, SGS reported that Malaysian palm oil export products for Sept

1-25 went up 15 per cent to 1.08 million tonnes compared with 939,456

tonnes shipped during the Aug 1-25 period.

At the last traded

price yesterday, the October 2010 contract fell RM4 to RM2,759 per tonne

but November 2010 increased RM5 to RM2,737, December 2010 went up RM2

to RM2,737 per tonne and January 2011 added RM7 to RM2,748 per tonne.

Total volume declined to 14,672 lots from 19,154 lots the

previous day while open interests decreased to 63,350 contracts from

64,731 contracts previously.

On the physical market, October South fell RM5 to RM2,760 per tonne.

Source : Business Times

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