CPO futures rise on bullish sentiment

CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher yesterday as market players were bullish over the August 1-20 palm oil export data released by cargo surveyors, dealers said.

September 2011 gained RM10 to close at RM3,125 a tonne, October 2011 increased RM21 to RM3,056, November 2011 added RM19 to RM3,022 and December 2011 up RM21 to RM3,008.

Turnover rose to 11,913 lots from 15,616 lots last Friday while open interest dropped to 128,392 contracts from 129,652 contracts previously.

On the physical market, August South was unchanged at RM3,130 a tonne.

Source :Business Times

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