CPO Futures Hit 9-Month Highs

KUALA LUMPUR: Crude palm oil futures on Bursa Malaysia Derivatives touched their nine-month highs yesterday, driven by recovery in exports, dealers said.

Cargo surveyor Intertek Testing Services reported a 37 per cent rise in Malaysian exports for the first 15 days of the month to 697,804 tonnes, pointing to bright demand prospects.

March 2012 rose RM44 to RM3,420, April 2012 advanced RM13 to RM3,393 a tonne, May 2012 added RM18 to RM3,403 a tonne and June 2012 was RM19 higher at RM3,397 a tonne.

Volume declined to 23,594 lots from 24,003 lots, while open interest jumped to 128,182 from 122,110 contracts recorded previously.

On the physical market, March South was up RM20 to RM3,370 a tonne.

Source: Business Times

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