CPO Futures Rise on Positive Sentiment

KUALA LUMPUR: The crude palm oil futures market ended higher yesterday supported by better external market sentiment, dealers said.

The rescue package for Spain’s struggling banks lifted investor sentiment and soothed worries seen last week that caused a global sell-off in the financial markets, a dealer said.

Meanwhile, cargo surveyor Societe Generale de Surveillance reported that exports of palm oil products rose 1.8 per cent to 426,914 tonnes between June 1-10 from 419,364 shipped in May.
June 2012 added RM35 to RM2,960 a tonne and July, August and September 2012 each rose RM16 to RM2,989, RM2,989 and RM2,986 a tonne, respectively.

Volume rose to 32,538 lots, from 31,567 lots, while open interest rose to 98,891, from 98,671 contracts, previously.

On the physical market, June South rose RM10 to RM3,000 a tonne.

Source : Business Times

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