CPO Futures Rise on Speculative Buying

KUALA LUMPUR: Crude palm oil futures contracts on the Bursa Malaysia Derivatives closed higher yesterday on speculative buying.

The market saw mild trading volume following the low production season.

March 2013 rose RM34 to RM2,420 a tonne, April 2013 added RM39 to RM2,430, May 2013 was RM36 higher at RM2,435 and June 2013 gained RM33 to RM2,440.

Turnover surged to 28,800 lots from 20,945 lots while open interest rose to 195,598 contracts from 186,533 contracts yesterday. On the physical market, March South was RM30 higher at RM2,420 a tonne.

Source : Business Times

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