KUALA LUMPUR: Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher yesterday on the prospects of stocks dwindling in June as exports have picked up coupled with the onslaught of the Ramadan fasting month.
However, the underlying sentiment of the market remains directionless as production is anticipated to increase at the same time, placing pressure on investors who may adopt a wait-and-see attitude.
At the close, July 2013, August 2013 and October 2013 gained RM26 to end at RM2,359 a tonne, RM2,368 and RM2,358 a tonne, respectively. September rose RM33 to RM2,365 a tonne.
Source : Business Times