CPO Futures Rise In Line with Stronger Oil Prices

CRUDE palm oil futures closed higher on Bursa Malaysia Derivatives

yesterday supported by stronger crude oil prices, a dealer said.

The

dealer also attributed the uptrend to strong demand for biofuel due to

high crude oil prices.

June rose RM22 to settle at RM2,560 a

tonne, July added RM23 to RM2,515 , August increased RM18 to RM2,474

and September 2010 gained RM19 to RM2,448.

Volume increased to 10,094 lots from 9,631 lots recorded yesterday while

open interest fell to 69,501 contracts from 69,525 previously.

On

the physical market, June South was unchanged at RM2,570 a tonne. –

Bernama

Source : Business Times

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