Palm Futures Up on Export Data Boost

CRUDE palm oil futures on Bursa Malaysia Derivatives closed higher on Tuesday on buying activities, dealers said.

A dealer said a friendly export data released by cargo surveyor Societe Generale de Surveillance provided a boost to the local market.

November advanced RM60 to RM2,950 a tonne, December gained RM64 to RM2,955, January 2012 went up RM61 to RM2,951 and February 2012 added RM59 to RM2,955.

Turnover rose to 29,678 lots from 22,983 on Monday while open interest fell to 137,231 contracts from 137,933 on Monday.

On the physical market, November South fell RM10 to RM2,960 a tonne.

Source: Business Times

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