CPO Prices Ended Higher

CRUDE

palm oil (CPO) prices ended higher on Bursa Malaysia Derivatives

yesterday despite a larger-than-expected drop in overseas market,

dealers said.

Cargo surveyor, Intertek Testing Services, said

exports of Malaysian palm oil products for December 1-10 fell 23.7 per

cent to 298,005 tonnes from 390,534 tonnes shipped during November 1-10.

Meanwhile, Malaysian Palm Oil Board data showed that November

exports rose by 2.7 per cent to 1.50 million tonnes from 1.46 million

tonnes in the previous month on robust demand from China and the

European Union.

Traders, however, said the Malaysian exports would slow significantly in

December judging from cargo surveyor data for first ten days of this

month.

December 2010 rose by RM6 to close at RM3,630, January

2011 increased RM20 to RM3,670 per tonne, February added RM35 to RM3,633

per tonne and March 2011 was RM33 higher to RM3,583 per tonne.

Volume rose to 23,408 lots from 22,294 on Thursday and open interests increased to 85,371 contracts from 82,763 previously.
December South was unchanged at RM3,650 per tonne yesterday.

Source : Business Times

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