CPO Futures Up on Higher Demand

KUALA LUMPUR: Crude palm oil (CPO) futures prices closed higher yesterday on demand for the commodity ahead of the Muslim festival of Hari Raya Aidilfitri in August.

Philip Futures Sdn Bhd derivative product specialist David Ng said September contracts swung between positive and negative territory on strong exports.

Meanwhile, July 2013, August 2013 and September 2013 each added RM6 to RM2,465 a tonne, RM2,473 and RM2,468 respectively.

October 2013 gained RM5 to RM2,462 a tonne.

Turnover rose to 29,955 lots from 20,015 lots, while open interest added 198,813 from 187,191 contracts previously. 

On the physical market, July South stayed flat at RM2,470 a tonne.

Source : Business Times 

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