CPO Futures Up on Demand Rising

KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed higher yesterday on the prospect of better bio-diesel demand, said a dealer. 

Phillip Futures Sdn Bhd Derivative Product Specia-list David Ng said the higher CPO market was also boosted by bargain-hunting activi-ties after a steep fall in prices last week. 

At close, January 2014 remained at RM2,541 a tonne, February 2014 improved RM6 to RM2,568 a tonne, March 2014 rose RM10 to RM2,580 a tonne, while April 2014 was at RM2,583 a tonne. 

Turnover eased to 28,749 lots from 31,861 lots last Friday, while open interest dipped to 180,724 contracts from 185,233 contracts.

Source : Business Times 

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