KUALA LUMPUR: Crude palm oil futures contracts rallied to 17-month high yesterday amid quickening pace and aggressiveness of Indonesia’s biodiesel uptake by PT Pertamina.
Indonesia’s PT Pertamina, managed to secure 45 per cent of 2.4 million kilolitres that are originally tendered.
March 2014 rose RM27 to RM2,710 a tonne, April 2014 gained RM33 to RM2,718 a tonne, May 2014 added RM32 to RM2,714 a tonne and June 2014 jumped RM31 to RM2,704 a tonne.
Turnover rose to 48,855 lots from 32,658 lots on Monday and open interest rose to 227,289 contracts from 217,238 previously.
On the physical market, March South gained RM20 to RM2,720 a tonne.
Source : Business Times