CPO Futures Rebound Amid Low Volume

CRUDE palm oil (CPO) futures contracts on Bursa Malaysia Derivatives

rebounded to close higher yesterday in line with the uptrend on the

Dalian Commodity Exchange, a dealer said.

Meanwhile, Interband

Group of Companies senior palm oil trader Jim Teh said although the

volume was lower, the prices had increased as the market was influenced

by the speculators’ speculative playing.

The CPO May contract

was up RM21 to RM3,391 per tonne, June and July rose RM16 each to

RM3,321 and RM3,293 per tonne respectively, while August was up RM17 to

RM3,280 per tonne.

Turnover dwindled to 16,873 lots from 18,734 lots on Wednesday while

open interest was down to 106,039 contracts from 107,114 contracts

previously.

On the physical market, May South rose RM15 to RM3,400 per tonne.

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