Palm Futures Up on Weaker Dollar, Speculative Buying

CRUDE

palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher

yesterday amid a weaker US dollar and speculative buying, dealers said.

They said the upward trend was in line with the firmer vegetable oil prices.

November

2010 contract gained RM63 to close at RM3,075 per tonne, December 2010

went up RM62 to RM3,067, January 2011 increased RM66 to RM3,071 and

February 2011 rose RM64 to RM3,066.

Total volume eased to 19,159 lots from 14,048 last Friday, while open

interest decreased to 68,781 contracts from 70,127 previously.

On the physical market, October South rose RM60 to RM3,080 per tonne.

Source : Business Times

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