Palm Futures Lifted by Bullish Leads

KUALA LUMPUR: Crude palm oil futures closed higher yesterday on expectations that positive manufacturing data from China will fuel demand for vegetable oil, dealers said.

Dealers said prices also tracked gains of other vegetable oils which gained in Asian trade due to growing demand from China.

November 2012 rose RM10 to RM2,404 a tonne, December 2012 added RM22 to RM2,467, January 2013 added RM41 to RM2,537 and February 2012 rose RM39 to RM2,579 a tonne.

Turnover rose to 33,160 lots from 28,495 while open interest was higher at 160,614 contracts from 153,289 on Wednesday.


On the physical market, November South fell to RM2,410 from RM2,390 a tonne previously.


Source : Business Times

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