CPO Futures Higher on Late Buying

CRUDE palm oil futures on Bursa Malaysia Derivatives closed higher yesterday as late buying pushed up prices, dealers said.

“The market was quiet throughout the day until late in the day when buying activities emerged,” a dealer said.

November advanced RM9 to RM2,890 a tonne, December gained RM5 to

RM2,891, while January 2012 and February 2012 added RM7 each to RM2,890

and RM2,896 respectively.

Volume rose to 22,983 lots from 21,057 lots on Friday while open interest dropped to 137,933 contracts from 138,673 yesterday.

On the physical market, November South jumped RM80 to RM2,970 a tonne.

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