CPO Futures Up on Stock Concerns

KUALA LUMPUR: Crude palm oil futures contracts closed higher yesterday on buyers’ expectations that the inventory level for it could fall. An investment analyst said the Malaysian Palm Oil Board will this Friday release the official data on stocks and output for April. Spot month May 2013 and June 2013 each rose RM25 to RM2,263 and RM2,283 a tonne respectively, July 2013 gained RM29 to RM2,289 and August 2013 was up RM30 to RM2,286.

Turnover increased to 23,202 lots from 22,230 lots on Tuesday and open interest advanced to 187,882 contracts from 185,809 previously. On the physical market, May South advanced RM30 to RM2,300 a tonne.

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