CPO Futures Up on Positive Sentiment

KUALA LUMPUR: Crude palm oil futures closed slightly higher yesterday on positive sentiment over a potential export tax cut, dealers said.

A dealer said the market reacted well to a proposal by the Ministry of Plantation Industries and Commodities to cut the export tax to boost crude palm oil shipment.

October 2012 and November 2012 added RM6 each to RM2,089 and RM2,275 a tonne, while January 2013 lost RM1 to RM2,438 and December 2012 rose RM1 to RM2,351.
Turnover fell to 33,333 lots from 50,577 lots while open interest fell to 164,431 contracts from 181,876 previously.

On the physical market, October South lost RM30 to RM2,190 a tonne

Source : Business Times

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