CPO Futures Up on Strong Rebound

KUALA LUMPUR: Crude palm oil futures prices on Bursa Malaysia Derivatives closed higher yesterday after three days of losses.

“There is a lot of speculative play, paper trading but very little physical activity,” Interband Group Senior Palm Oil Trader Jim Teh said.

December 2012 rose RM12 to RM2,117 a tonne, January 2013 climbed RM11 to RM2,216, February 2013 gained RM10 to RM2,294 and March 2013 added RM7 to RM2,355.
Turnover increased to 45,693 lots from 37,095 lots on Wednesday, while open interest surged to 189,923 contracts from 178,581 contracts.

On the physical market, December South climbed RM20 to RM2,100 a tonne.

Source :  Business Times

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