Palm Futures Close Higher

Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives ended higher yesterday on healthy export data, dealers said.

According to Societe General de Surveillance, July exports of Malaysian palm oil products rose by 14.8 per cent to 1,409,324 tonnes from 1,227,663 tonnes shipped in June.

Intertek Testing Services said exports of Malaysian palm oil products for July increased by 13.9 per cent to 1,401,263 tonnes from 1,230,741 tonnes shipped last month.
The CPO futures for August 2009, September 2009 and October 2009 gained RM44 each to close at RM2,274, RM2,205 and RM2,189 per tonne respectively. November 2009 contract advanced RM48 to RM2,184 a tonne.

Volume rose to 20,535 lots from 10,704 lots Thursday while open interests went up to 82,346 contracts from 83,246 contracts previously.

On the physical market, August South rose to RM2,280 per tonne from RM2,230 Thursday. Source : Business Times

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