CPO Futures Rise on Continued Buying

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

closed higher again yesterday on continued buying from traders, dealers

said.

A dealer said trading was, however, volatile with traders on the lookout for fresh leads.

“Spot

month May 2011 turned bearish but overall fundamentals are still

bullish,” she said, adding that the current hot spell may be temporary

and was not expected to weigh on the coming oil palm harvest.

May 2011 lost RM63 to RM3,437 a tonne, June 2011 gained RM10 to RM3,370,

July 2011 moved up RM11 to RM3,269 and August 2011 climbed RM20 to

RM3,248.

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