Palm Futures Up Takes Cue From Stocks

KUALA LUMPUR: Crude palm oil (CPO) futures prices ended higher, taking the cue from the sharp fall in Malaysia’s palm oil stocks and output as well as the rise in exports.

Phillip Futures derivative product specialist, David Ng, said the palm oil stock data released Malaysian Palm Oil Board (MPOB) fell below the market expectation.

July 2014 firmed RM10 to RM2,450, August 2014 added RM21 to RM2,417, September 2014 rose RM13 to RM2,386 and October 2014 increased RM8 to RM2,366 a tonne.

Volume edged up to 53,867 lots from 49,488 lots on Wednesday while open interest decreased to 260,365 contracts from 261,210 previously.

On the physical market, July South was flat at RM2,460 a tonne. Bernama

 

Source : New Straits Times

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