Bearish Data Caps Rise in Palm Futures

KUALA LUMPUR: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher yesterday, influenced by firmer soyaoil prices, dealers said.

Gains, however, were limited by continuous bearish off-take data and high inventory condition in the country.

Spot month January 2013 surged RM54 to RM2,330 a tonne, February 2013 rose RM35 to RM2,375, March 2013 rose RM27 to RM2,398 from RM2,371 and April 2013 added RM20 to RM2,415 a tonne.

Turnover expanded to 42,040 lots from 36,146 lots on Monday while open interest rose to 206,943 contracts from 204,680 contracts.

On the physical market, January South advanced RM10 to RM2,260 a tonne.

Source : Business Times

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