Palm Futures Rises on Strong Buying

CRUDE palm oil (CPO) prices on Bursa Malaysia Derivatives closed higher on strong buying interest, a dealer said.

The CPO futures prices rose on technical correction as well, he said.

July

2011 contracts added RM57 to close at RM3,140 per tonne: August 2011

rose RM48 to RM3,118, September 2011 gained RM46 to RM3,109 and October

2011 was up RM40 to RM3,102.

Turnover fell 14,821 lots from 25,407 lots on Tuesday, while open

interest climbed to 117,154 contracts from 117,143 previously.

On the physical market, July South spiralled to RM3,140 from RM3,110 on Tuesday.

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