Palm Futures Up on Demand Prospects

KUALA LUMPUR: Crude palm oil futures (CPO) contracts on Bursa Malaysia Derivatives closed higher yesterday on strong demand prospects, a dealer said.

As for the CPO contracts yesterday, January increased RM62 to RM2,382 per tonne, February added RM62 to RM2,457, March rose RM63 to RM2,501 and April advanced RM67 to RM2,545.

Turnover decreased to 33,431 lots from 43,399 lots on Monday, while open interest declined to 195,021 contracts from 205,224 contracts.

On the physical market, January South gained RM40 to RM2,300 per tonne yesterday from RM2,260 on Monday. 

The market was closed for the New Year celebration on Tuesday.

Source : Business Times

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