CPO futures rise on renewed demand

CRUDE palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended higher yesterday on renewed demand following bullish export data released by two cargo surveyors.

Intertek Testing Services said the country’s exports for the first 15 days of May jumped 27.6 per cent to 533,419 tonnes from 418,134 tonnes the previous month.

The June 2011 contracts jumped RM24 to RM3,389 per tonne, July 2011 rose RM20 to RM3,294, August 2011 gained RM6 to RM3,255 and September 2011 climbed RM5 to RM3,245. 

Source: Business Times

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