KUALA LUMPUR: Crude Palm Oil (CPO) futures contracts on Bursa Malaysia Derivatives closed mostly higher amid bargain hunting activities.
Phillip Futures Sdn Bhd Investment Analyst David Ng said firmness in the Chicago soyabean market also lifted palm oil prices.
“Traders are cautious before the release of export data for April 1 to April 25 by cargo surveyors Societe Generale de Surveillance and Intertek Testing Services today.”
He said the CPO futures prices are now on the recovery phase after consecutive days of losses.
Spot month May 2013 gained RM20 to RM2,285 a tonne, June 2013 increased RM20 to RM2,296 a tonne, July 2013 improved RM16 to RM2,289 a tonne and August 2013 rose RM14 to RM2,285 a tonne.
Source : Business Times