KUALA LUMPUR: The crude palm oil futures on Bursa Malaysia Derivatives closed slightly higher yesterday on short-covering after a two-day downtrend, a dealer said.
“The market staged a mild recovery after the losses, but this is expected to be temporary, as the overall sentiment is still bearish,” she added.
May 2012 and June 2012 improved RM20 each to RM3,355 and RM3,360 a tonne respectively. July 2012 increased RM14 to RM3,349 and August 2012 added RM16 to RM3,340.
Volume rose to 27,230 lots from the 23,210 lots while open interest fell to 124,861 from 127,696 contracts.
On the physical market, May South was flat at RM3,360 a tonne.
Source : Business Times