CPO Boosted by ringgit

KUALA LUMPUR: Crude palm oil futures contracts on Bursa Malaysia Derivatives closed higher yesterday on the weaker ringgit, a dealer said.

The expectation of lower production in Indonesia was also supportive of the prices.

Spot month December 2013 gained RM20 to RM2,582, January 2014 firmed RM24 to RM2,581, February 2014 rose RM24 to RM2,580 and March 2014 increased RM21 to RM2,580 a tonne. 

Volume increased to 18,723 lots from 16,750 lots, while open interests dipped to 167,839 contracts from 174,076 contracts on Wednesday. 

On the physical market, December South increased RM10 to RM2,650 a tonne. Bernama

Source :  Business Times

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