CPO Futures Extend Three-Day Rally


palm oil futures prices on Bursa Malaysia Derivatives closed higher as

the market extended its three-day rally on concerns that weather-related

horror will cut into production, dealers said.

The La Nina

weather, the hardest to have hit in almost half a century, has resulted

in heavy rains and flooding, and is expected to cause extensive damage

to crops in Australia and Asia.

Dealers said rising food prices due to the La Nina horror was fuelling inflation fears.

January 2011 advanced RM50 to RM3,668 a tonne, February 2011 rose RM46

to RM3,646 a tonne, March 2011 increased RM60 to RM3,620 a tonne and

April 2011 gained RM63 a tonne to RM3,593 a tonne.

Source : Business Times

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