Palm Futures Close Firmer on Strong Buying

KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed firmer yesterday, lifted by strong buying interest.

Dealers said the market saw see-saw trading but managed to end firmer, supported by better export data for May 1-25 despite downtrends in other commodities markets.

June 2012 gained RM40 to RM3,100 a tonne, July 2012 rose RM57 to RM3,130 a tonne, August 2012 added RM61 to RM3,130 a tonne and September 2012 edged up RM60 to RM3,123 a tonne.
Volume fell to 35,239 lots from 40,959 lots on Thursday, while open interest dwindled to 101,849 contracts from 104,233 contracts.

On the physical market, June South rose RM50 to RM3,130 a tonne.

Source : Business Times

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