Palm Futures Firmer On Bullish Sentiment

Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher yesterday on bullish sentiment over continued demand from China, dealer said.

A dealer said the market continued to trade on a positive note, crossing RM3,000 per tonne yesterday, in line with other commodities like soyaoil.

The gain was also supported by the weakness in the greenback.

The November 2010 contract rose RM19 to RM3,012 per tonne, December 2010 and January 2011 each increased by RM15 to RM3,005, respectively, and February 2011 added RM15 to RM3,002 per tonne.-  Bernama

Source: Business Times

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