CPO futures up on buying interest

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KUALA LUMPUR: Crude palm oil (CPO) futures prices on Malaysia Derivatives Exchange rebounded to close higher after the market rebounded following a series of declines the past few days. Phillip Futures Sdn Bhd derivative product specialist David Ng said cheap prices prompted buying interest ahead of the festival season.

June 2014 rose RM44 to RM2,440, July 2014 firmed RM48 to RM2,443, August 2014 added RM45 to RM2,432 and September 2014 soared RM48 to RM2,421 a tonne.  Volume dropped to 42,354 lots from 48,713 lots on Tuesday while open interest decreased to 217,744 contracts from 221,713 contracts.

Bernama

Source: Business Times

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