Palm Futures Up on Buying Interest

KUALA LUMPUR: Crude palm oil futures closed higher yesterday on renewed buying interest in line with gains in the soya oil futures market, dealers said.

Some dealers expect prices to be on the uptrend due to concerns of an anticipated rainy season ahead.

Spot month November 2012 gained RM3 to RM2,396, December 2012 rose RM16 to RM2,456, February 2013 gained RM27 to RM2,530 while benchmark January 2013 rose RM25 to RM2,496. 

Turnover fell to 34,274 lots from 44,600 lots while open interest fell to 157,236 contracts 174,059 previously.


On the physical market, November South rose RM40 to RM2,400 a tonne.


Source : Business Times

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