Palm futures recover on bargain-hunting

CRUDE palm oil futures prices on Bursa Malaysia Derivatives rebounded to close higher yesterday on bargain hunting, dealers said.

October 2011 increased RM47 to RM2,982 a tonne, November 2011 rose RM41 to RM2,949, December 2011 gained RM43 to RM2,948 and January 2012 went up RM39 to RM2,950.

Trading volume fell to 23,487 lots from 42,975 lots on Monday while open interest stood at 128,915 contracts from 135,222 previously.

On the physical market, October South rose to RM2,960 against the RM2,950 recorded on Monday.

Source: Business Times

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