Palm futures rise on strong demand

KUALA LUMPUR: Crude palm oil futures contract on Bursa Malaysia Derivatives closed broadly higher for the second consecutive day, lifted by strong demand.

Phillip Futures Sdn Bhd derivative product specialist David Ng said the local market saw interest in anticipation of continuous demand from China.

He said the forecast of rain in several parts of Malaysia over the next week, which may hamper harvesting and curb output, also sparked demand. 

Spot month November 2013 climbed RM47 to RM2,527 a tonne, December 2013 expanded RM36 to RM2,507, January 2014 increased RM35 to RM2,498 and February 2014 improved RM36 to RM2,495.

Source : Business Times 

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