Palm Futures End Higher, Supported by Rise in Soyoil

CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives

ended higher yesterday supported by the rise in the price of its rival,

soyabean oil, dealers said.

A dealer said the local market was

also in over-sold position after the recent losses. “The futures”

support price is now seen at RM2,460 per tonne and resistent at

RM2,550,” he said.

May 2010 contract rose by RM20 to RM2,570,

June 2010 increased RM22 to RM2,546, July 2010 climbed RM15 to RM2,530

and August 2010 went up RM20 to RM2,527.

On the physical market, May South added RM20 to RM2,570 a tonne.

Source : Business Times

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