Palm Futures Advance, Riding on External Cues

CRUDE palm oil (CPO) futures contracts on

Bursa Malaysia Derivatives closed slightly higher yesterday as gains in

soya oil raised sentiments, a dealer said.

“Palm oil is riding on

external cues due to lack of fresh leads on the local front, while

concerns over rising production mounted,” she said.

April and May

earned RM7 each to RM3,416 and RM3,386 a tonne respectively, while June

rose RM10 to RM3,376 a tonne and July gained RM8 to RM3,370 a tonne.

Turnover increased to 23,473 lots from Tuesday’s 17,041 lots, while open

interest rose to 93,324 contracts versus 92,234 contracts previously.

On the physical market, April South was unchanged at RM3,430 a tonne.

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