Palm Futures Up on Buying Interest

CRUDE palm oil futures closed higher yesterday on renewed buying interest, dealers said.

A dealer said domestic players took advantage of the lower price yesterday to return to the market.

December 2011 gained RM37 to RM3,000 a tonne, January 2012 added RM5 to RM2,001, February 2012 was up RM4 to RM3,002 and March 2012 rose RM8 to RM3,007.

Turnover was flat at 15,600 lots from on Monday while open interest slipped to 116,975 contracts compared with 117,734 previously.

On the physical market, December South lost RM30 to RM3,030 a tonne.

Source: Business Times

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