Palm Futures Rise on Follow-Through Buying

CRUDE

palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher

yesterday supported by followed-through buying from Thursday, dealers

said.

“The market is trying to recoup after sustaining sharp losses on Tuesday,” a dealer said.

He added the market was still volatile with external leads determining the market sentiment.

December 2010 added RM2 to RM3,337, January 2011 rose RM17 to RM3,350,

February 2011 was RM8 higher at RM3,326 and March 2011 gained RM11 to

RM3,317.

Total volume declined to 22,335 lots, from 41,879 lots

Thursday, while open interest decreased to 75,676 contracts from 77,197

contracts previously.

On the physical market, November South was unchanged at RM3,350 per tonne.

Source : Business Times

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