Palm Futures Up Due to Stock Market Rebound

CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher yesterday due to the rebound in local market activity, dealers

said.

A dealer also said although financial market volatility

kept investors cautious, traders expect strong exports to keep stocks,

at below two million tonnes.

September contract rose RM22 to

close at RM3,153 per tonne, October increased RM27 to RM3,073, November

jumped RM31 to RM3,033, while December was up RM37 to RM3,021.

Turnover declined to 20,104 lots from 26,190 lots on Tuesday while

open interest rose to 135,490 contracts from 132,750 contracts

previously.

On the physical market, September South gained RM20 to RM3,170 per tonne.

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