CPO Close Higher

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

higher yesterday, aided by favourable export figures released as well as

continued demand, dealers said.

Cargo surveyors Intertek Testing Services and Societe Generale de

Surveillance reported higher exports between Feb 1 and Feb 10 and this

was supported by higher offtake figures released by the Malaysian Palm

Oil Board on Wednesday.

The encouraging figures prompted both February and March gained RM21

to RM2,591 and RM2,586 per tonne, respectively, April rose RM17 to

RM2,580 per tonne and May increased RM23 to RM2,578 per tonne.

Turnover increased to 12,763 lots while open interest declined to 77,624


On the physical market, February South finished RM20 higher at

RM2,600 per tonne.

Source : Business Times

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