KUALA LUMPUR: The crude palm oil futures contract ended higher yesterday due to an increase in export demand for the local product and tight supply of soyabean oil, dealers said.
The dealers also said the higher close was further prompted by the bullish data released yesterday by cargo surveyor Societe Generale de Surveillance and the Malaysian Palm Oil Board.
Spot month April 2012 and May 2012 rose RM29 each to end at RM3,645 and RM3,619 a tonne respectively.
June 2012 added RM38 to RM3,613 a tonne, while July 2012 declined RM33 to RM3,589 a tonne.
On the physical market, April South rose to RM3,600 a tonne from RM3,580 a tonne.
Source: Business Times