KUALA LUMPUR: Crude palm oil futures contracts on Bursa Malaysia Derivatives closed higher yesterday after posting two consecutive days of losses with players getting ready for a long weekend, dealers said.
The market will be closed from midday today until Monday for the Chinese New Year and Federal Territories Day holidays. Trading will resume on Tuesday Feb 4.
Some dealers said they expect demand to pick up in the coming months as the weather becomes warmer.
February 2014 increased RM15 to RM2,535 a tonne, March 2014 added RM16 to RM2,541, April rose RM15 to RM2,544, May 2014 appreciated RM12 to RM2,539, June 2014 soared RM19 to RM2,540 and July 2014 gained RM11 to RM2,524 a tonne.
Source : Business Times