Palm Futures Lifted By Bullish Export Data

CRUDE palm oil futures on Bursa Malaysia Derivatives closed higher yesterday after two cargo surveyors released bullish export data, a dealer said.

The market reacted positively to export data showing a gain of seven to eight per cent for the first 15 days of November, said the dealer.

November 2011 rose RM50 to settle at RM3,170 a tonne, December 2011 gained RM62 to RM3,208, January 2012 went up RM60 to RM3,195 and February 2012 rose RM59 to RM3,194.

Turnover fell to 14,825 lots, while open interest amounted to 137,918 contracts.

On the physical market, November South increased RM50 to RM3,200.

Source: Business Times

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