CPO Futures up in Choppy Trade

KUALA LUMPUR: The crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed higher yesterday amid the uncertain global economy.

Kenanga Deutsche Futures dealer, Chan Chee Wei said the market remained cautious over the eurozone debt crisis despite the positive outcome from Greece election.

July 2012 contract surged RM31 to RM2,841 per tonne, August 2012 added RM7 to RM2,848 per tonne, September 2012 increased RM1 to RM2,849 per tonne and October 2012 rose RM6 to RM2,855 per tonne.
Turnover, however, decreased to 32,173 lots from 37,755 lots last week while open interest went down to 95,036 contracts from 100,392 contracts.

Source : Business Times

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