CPO Futures Continue Their Uptrend for Fifth Day

CRUDE palm oil futures continued their uptrend for the fifth consecutive day yesterday, as the market anticipated tight supply and stocks, dealers said.

January and February 2012 rose RM75 each to RM3,170 and RM3,175 a tonne respectively, March 2012 added RM73 to RM3,170 and April 2012 increased RM82 to RM3,172 a tonne.

Volume declined to 18,668 lots from Thursday’s 23,013 lots, while open interest dropped to 111,428 contracts from 113,094 on Thursday.

On the physical market, January South gained RM100 to RM3,200.

The CPO market will be closed on Monday for the Christmas holidays.

Source: Business Times

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