CPO Rebounds to Close Higher

KUALA LUMPUR: Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives rebounded to close higher yesterday as crude oil and soya oil both rose during Asian trading hours.

Phillip Futures derivative products specialist David Ng said anticipation of a lower inventory after the strong performance for the month of September proved to be supportive of the prices.

October 2014 added RM22 to RM2,187 a tonne, November 2014 increased by RM22 to RM2,183 a tonne, December 2014 was up RM23 to RM2,169 a tonne, and January 2015 rose RM23 to RM2,184 a tonne.

Volume decreased to 29,596 lots from 45,828 lots on Thursday while open interest fell to 294,471 contracts from 306,427 previously.

On the physical market, October South was up RM20 at RM2,200 a tonne. Bernama

Source : New Straits Times

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