CPO Futures Rise as Growing Demand Expected

CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives ended higher yesterday as demand for the commodity is expected to rise in coming months, dealers said. At the close, August 2010, which expired on Monday stood at RM2,779 a tonne followed by September 2010, which surged RM63 to RM2,685. October 2010 added RM7 to RM2,646 while November 2010 slipped RM24 to RM2,646 .
Meanwhile, new contract month December 2010 stood at RM2,636. Total volume was lower at 21,589 lots compared to 24,510 lots previously while open interest eased to 65,056 contracts from 65,512 contracts on Monday. On the physical market, August South fell RM30 to RM2,770 from RM2,800 previously.

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