Palm Futures Rise on Upward Correction

CRUDE palm oil futures closed higher yesterday on market correction amid the improved global economic outlook, dealers said.

However, slower export data provided some relief to the tightening stocks, he said.

December 2011 and February 2012 added RM40 to RM3,040 and RM3,058 a tonne respectively, January 2012 rose RM50 to RM3,058 and March 2012 went up RM44 to RM3,058.

Turnover fell to 16,764 lots from 18,350 lots while open interest rose to 127,625 contracts from 127,359 previously.

On the physical market, December South perked RM40 to RM3,080.

Source: Business Times

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