CPO Futures Surge on Late Buying

STRONG last-minute buying pushed crude palm oil futures prices on Bursa Malaysia Derivatives to close higher yesterday.

A dealer said the market was quiet until five minutes before the closing bell when the market saw heavy trading.

February 2012 fell RM5 to RM3,190 a tonne while March 2012 appreciated by RM10 to RM3,185 a tonne.

Meanwhile, April 2012 added RM16 to RM3,180 a tonne and May 2012 gained RM13 to RM3,173.

Volume improved to 25,838 lots from 25,785 lots on Tuesday while open interest went up to 118,267 contracts from 118,183 contracts.

On the physical market, January South was unchanged at RM3,190 a tonne.

Source: Business Times

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