CPO Futures Up on Fresh Demand

CRUDE palm oil futures prices on Bursa Malaysia Derivatives rebounded to close higher yesterday on expectations of fresh demand ahead of the

Chinese New Year celebrations, a dealer said.

On the futures

market, both January 2011 and February 2011 rose RM39 to end at RM3,722

and RM3,718, respectively, while March 2011 rose RM44 to RM3,694 and

April 2011 gained RM42 to RM3,655.

Turnover rose to 30,330

lots from 25,042 lots on Wednesday while open interest increased to

89,907 contracts from 88,705 previously.

On the physical market, January South rose to RM3,720 a tonne from RM3,670 previously.

Source : Business Times

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