Palm Futures Gain as Soyoil Attracts Strong Demand

PRICES on the crude palm oil futures contract market ended higher on

Bursa Malaysia Derivatives yesterday on reports of bullish demand of

soyoil from China, dealers said.

The June 2010 and July 2010

contracts gained RM25 each to settle at RM2,549 per tonne and RM2,455

per tonne respectively.

August 2010 and September 2010 rose RM24

each to be at RM2,410 per tonne and RM2,384 per tonne respectively.

Turnover was lower at 11,103 lots compared to 19,312 lots last Friday

while open interest rose to 78,541 contracts from 77,512 contracts.

On

the physical market, June South declined to RM2,530 per tonne from

RM2,540 per tonne last Friday.

Source : Business Times

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