Palm Futures Rise on Late Buying

KUALA LUMPUR: Crude palm oil futures on Bursa Malaysia Derivatives closed higher yesterday on last-minute buying, said a dealer.

“The futures contracts were traded in a tight range until buying activities in the last five minutes pushed up prices,” she added.

May 2012 rose by RM20 to RM3,515 a tonne, June 2012 gained RM21 to RM3,510, July 2012 added RM23 to RM3,500 and August 2012 surged RM30 to RM3,490 a tonne.

Volume fell to 29,436 lots from 34,170 lots while open interest fell to 115,733 contracts from the 116,458 contracts recorded previously.

On the physical market, April South rose RM20 to RM3,520.

Source: Business Times

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