CPO Futures Up on India’s Demand

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher yesterday on some demand for the commodity from India, Kenanga Deutsche futures dealer Chan Chee Wei said.

Meanwhile, spot month February 2013 was RM1 higher at RM2,470 a tonne, March 2013 was RM3 better at RM2,529 a tonne, April 2013 added RM10 to RM2,552 a tonne and May 2013 rose RM5 to RM2,568 a tonne. 

Turnover increased to 30,443 lots from Wednesday’s 29,055 lots, while open interest improved to 204,489 contracts from the 200,925 contracts on Wednesday. 

On the physical market, February South rose RM10 to RM2,450 a tonne.

Source : Business Times

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