CPO Futures up on Bargain Hunting

KUALA LUMPUR: Crude palm oil futures ended on a firm note yesterday on bargain hunting, dealers said.

A dealer said the rebound occurred after CPO prices dropped to its lowest in nearly three years.

“However, the recovery could be short-lived as fundamentals stay weak,” he said.
October 2012 gained RM100 to RM2,083 a tonne, November rose RM94 to RM2,269 and January 2013 gained RM79 to RM2,439 while, December added RM96 to RM2,351.

Turnover rose to 50,577 lots from 49,867 lots while open interest rose to 181,876 from 179,015 contracts previously.

On the physical market, October South added RM20 to RM2,220 a tonne.

Source : Business Times

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