CPO Futures Rise as Buyers Stock Up

CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed

higher yesterday as buyers started to stock up ahead of the fasting

month in July, dealers said.

June 2011 contract gained RM17 to

close at RM3,278 per tonne and July 2011 contract increased by RM25 each

to close at RM3,284. August 2011 contract rose RM15 to RM3,268 and

September 2011 increased by RM22 to RM3,270.

Turnover declined to

20,420 lots from 21,936 lots on Tuesday while open interest rose to

115,216 contracts from 113,379 contracts previously. On the physical

market, June South increased to RM3,300 per tonne from RM3,270 per tonne

yesterday.

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