KUALA LUMPUR: Crude palm oil futures contracts closed higher yesterday with a firmer bias on lingering concerns over US soybean output and good export demand for palm oil.
Phillip Futures Sdn Bhd derivative product specialist David Ng said some profit-booking was likely to be witnessed after the sharp rise in prices in the past few days.
On the index, October 2013 gained RM12 to RM2,458 a tonne, November 2013 rose RM19 to RM2,452 and December 2013 garnered RM25 to RM2,452.
September 2013, however, fell RM19 to RM2,466 a tonne.
Volume increased to 43,982 lots from 34,395 lots while open interest rose to 204,971 from 201,128 contracts.
On physical market, September South was flat at RM2,490 a tonne. Bernama
Source : Business Times