CPO Stays Firm on Positive Demand

KUALA LUMPUR: Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives remained higher for the second consecutive day yesterday on the back of positive market sentiment, a dealer said.

Phillip Futures Sdn Bhd derivative products specialist David Ng said expectations of a production decline in Malaysian palm oil in September coupled with lower inventories amid a 16 per cent jump in exports for the month helped boost demand.

October 2014 and November 2014 increased RM18 each to RM2,220 and RM2,213 per tonne respectively, December 2014 rose RM15 to RM2,195 per tonne, and January 2015 gained RM13 to RM2,207 per tonne.

Volume surged to 45,039 lots from 28,625 lots on Tuesday while open interest improved to 311,158 contracts against 294,606 contracts previously.

On the physical market, October South was up RM20 at RM2,230 a tonne.Bernama

 

Source : New Straits Times

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