Palm Futures Up on Better Demand

KUALA LUMPUR: Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives rebounded on improved demand, a dealer said.

“Technically, September CPO contract is likely to rise towards the RM2,470-RM2,510 levels.”

July 2014 rose RM15 to RM2,450 a tonne, August 2014 was up RM9 at RM2,440, September 2014 gained RM8 to RM2,425 and October 2014 improved RM9 to RM2,428.

Volume narrowed to 27,522 lots from 57,586 while open interest eased to 229,647 contracts from 249,981.

On the physical market, July South rose RM10 to RM2,470 a tonne.Bernama


Source : New Straits Times

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