CPO Futures Mostly Higher

CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives endedmostly higher yesterday on anticipation the strong CPO prices will continue, dealers said. A dealer said the CPO was above RM2,500 per tonne currently backed by surge in demand and supply uncertainties. “It is a good sign for the industry if the market accepts the current price level,” he said.

At the close, March 2010 and April 2010 rose RM49 each to RM2,729 per tonne and RM2,709 per tonne respectively. May 2010 and June 2010 increased RM35 each to RM2,685 per tonne and RM2,670 per tonne respectively. Total volume rose to 11,722 lots from 10,742 lots yesterday while open interest increased to 82,217 contracts from 81,504 contracts previously. On the physical market, March 2010 increased to RM2,720 per tonne from RM2,700 per tonne yesterday. Source : Business Times

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