KUALA LUMPUR: The crude palm oil futures on Bursa Malaysia Derivatives rebounded to close higher yesterday due to bargain hunting activities.
The strengthening of the local CPO prices was influenced by higher soyabean and soyabean oil prices, following supply concerns from South America, the dealer added.
However, gains in the CPO prices were capped by the anticipation of lower export data for the first 20 days of March.
April 2013 and July 2013 each increased RM28 to RM2,414 a tonne, while May 2013 added RM30 to RM2,416 a tonne, and June 2013 rose RM30 to RM2,415 a tonne.
Source : Business Times