KUALA LUMPUR: The crude palm oil futures closed higher on increased buying interest.
“End-May stocks are expected to be lower and this would be bullish for prices,” said Kenanga Deutsche Futures dealer, Chan Chee Wei.
He said that the market was expected to re-test the RM3,200-a-tonne level in the near term.
June 2012 and July 2012 added RM23 each to RM3,140 and RM3,170 respectively.
August 2012 rose RM34 to RM3,178 and September 2012 increased RM36 to RM3,172.
Volume rose to 27,168 lots from 24,320 lots previously, while open interest rose to 102,485 from 102,459 contracts previously.
On the physical market, June South rose RM20 to RM3,180.
Source : Business Times