CPO Futures Steadier Amid Talks of Bad Weather

PRICES of crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended higher yesterday amid talks of new price and bad weather. The market is reacting positively to a price forecast made by leading industry analyst Dorab Mistry, dealers said. At close, the September 2010 contract was unchanged at RM2,688 a tonne, October 2010 increased RM31 to RM2,604, November 2010 went up RM12 to RM2,542 and December added RM12 to RM2,525.

Turnover dropped to 12,062 lots from 17,790 lots on Thursday and open interest rose to 68,853 contracts from 68,428 contracts previously. On the physical market, August South added RM20 to be at RM2,720 a tonne.

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