CPO Futures Market Rebounds After 3 Days of Losses

KUALA LUMPUR: Crude palm oil futures closed higher yesterday after three days of losses.

Interband Group Senior Palm Oil Trader, Jim Teh, said the buyers still stayed on the sidelines to await fresh market leads amid the continued concerns of high stocks.

November 2012 rose RM21 to RM2,301 a tonne, December 2012 improved RM5 to RM2,330, January 2013 added RM25 to RM2,397 and February 2013 gained RM25 to RM2,450 a tonne.

Turnover rose to 43,064 lots from 34,020 lots while open interest rose to 172,609 contracts from 164,679 previously.

On the physical market, November South was flat at RM2,300 a tonne.

Source : Business Times
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