Palm Futures Rebound After Recent Losses

CRUDE palm oil futures on Bursa Malaysia Derivatives staged a rebound yesterday after recent losses on pre-holiday buying.

Dealers said sentiment remained cautious as they awaited an announcement on Malaysia’s crude palm oil tax-free quota.

February 2012 surged RM30 to RM3,052 a tonne, March 2012 jumped RM22 to RM3,082, April 2012 rose RM29 to RM3,085 pand May 2012 increased RM30 to RM3,080 per tonne.

Turnover was higher at 22,720 lots from 17,185 lots while open interest was higher at 111,281 contracts from 45,239 previously.

On the physical market, February South jumped to RM3,090 from RM3,070 on Thursday.

Source: Business Times

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