CPO Futures Up on Buying Interest

KUALA LUMPUR: Crude palm oil futures prices closed higher yesterday on renewed buying interest, dealers said. 

Phillip Futures derivative product specialist David Ng said the weaker ringgit against the US dollar and good exports for the month supported prices.

However, rising output in producing countries capped gains, he added.

October 2013, November 2013 and January 2014 gained RM11 each to RM2,316, RM2,311 and RM2,312 a tonne, respectively, while December 2013 rose RM9 to RM2,309 a tonne.

Volume appreciated to 29,253 lots from 21,822 lots on Friday while open interest rose to 180,821 contracts from 173,081 previously. 

On the physical market, October South added RM5 to RM2,330 a tonne.

Source : Business Times 

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