Last-Minute Buying Lifts CPO Futures

KUALA LUMPUR: Crude palm oil futures (CPO) prices on Bursa Malaysia Derivatives closed higher yesterday, boosted by positive conclusions on the industry by prominent speakers at the three-day Bursa Malaysia Palm Oil Conference which started here on Monday.

“The prices of the futures contracts were lower in the morning session, but last-minute buying in the second session pushed them up,” she said.

March 2012 and April 2012 surged RM38 each to RM3,255 and 3,275 per tonne respectively, May 2012 increased RM22 to RM3,266 per tonne, while June 2012 added RM17 to RM3,259 per tonne.

Volume increased to 22,106 lots from 12,476 lots while open interest decreased to 122,972 contracts from 123,229 contracts on Tuesday.

On the physical market, March South increased RM20 to RM3,260 a tonne.

Source: Business Times

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