KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed higher yesterday on technical buying support for the commodity.
Malaysia, the world’s No. 2 palm oil producer, maintained the tax on CPO exports for June to boost shipments and pare down inventories.
Spot month June 2013 rose RM40 to RM2,320 a tonne, July 2013 added RM29 to RM2,324, August 2013 jumped RM17 to RM2,314 and September 2013 closed RM8 higher at RM2,305 a tonne.
Turnover increased to 44,002 lots from 42,201 lots on Wednesday but open interest fell to 215,295 contracts from 215,695 previously.
On the physical market, May South advanced RM40 to RM2,330 a tonne.
Source : Business Times