CPO Futures Uptrend Continues

KUALA LUMPUR: The crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed higher for the third consecutive day yesterday, boosted by favourable export data released by cargo surveyors, dealers said.

Cargo surveyor Intertek Testing Services yesterday reported that Malaysia’s palm oil export for the first 20 days in June 2012 was 15 per cent higher at 996,662 tonnes compared with 865,570 tonnes shipped during the same period in May.

July 2012 contract jumped RM105 to RM3,035 per tonne, August 2012 surged RM103 to RM3,045 per tonne, September 2012 rose RM93 to RM3,041 per tonne and October 2012 advanced RM81 to RM3,045 per tonne.

Source : Business Times

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