Palm Futures Uptrend Continues

CRUDE palm oil futures prices continued their uptrend for the third consecutive day yesterday on Bursa Malaysia Derivatives.

A dealer said follow-through buying coupled with strong export figures

released yesterday and dwindling stocks aided market sentiment.

December

2010 rose RM64 to RM3,570 a tonne, January 2011 gained RM90 to RM3,528,

February 2011 increased RM74 to RM3,486 and March 2011 was RM55 higher

at RM3,451.

Total volume, however, declined to 20,240 lots from 25,648 lots

yesterday while open interest increased to 80,024 contracts from 79,723

previously.

On the physical market, December South rose RM35 to RM3,545 a tonne.

Source : Business Times

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