palm oil futures on the Bursa Malaysia Derivatives continued its rally
marginally for the fourth consecutive day yesterday, as global concerns
ease amid tightening supplies, dealers said.
“Heavy rain from
seasonal monsoon had disrupted production and low output conditions may
last until January,” a dealer said. He said prices are tracking gains
across other commodity classes as well.
December 2010 fell RM4 to
RM3,566 a tonne, January 2011 gained RM7 to RM3,535, February 2011 rose
RM14 to RM3,500 and March 2011 inched up RM2 to RM3,453.
Volume slipped to 20,223 lots from 20,240 previously while open interest
fell to 79,484 contracts from 80,024 on Wednesday. On the physical
market, December South perked RM5 to RM3,550.
Source : Business Times