Palm futures buoyed by foreign demand

CRUDE palm oil futures on Bursa Malaysia Derivatives closed higher yesterday on active demand from foreign buyers, a dealer said.

June 2011 went up RM11 to settle at RM3,400 a tonne, while July 2011 climbed RM43 to RM3,337, August 2011 rose RM42 to RM3,297 and September 2011 was RM40 higher at RM3,285.

Volume rose to 29,486 lots from Monday’s 18,702 lots and open interest was lower at 106,652 contracts as against 108,205 previously.On the physical market, June South was flat at RM3,400.

Source: Business Times

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