CPO Futures Up on Keen Buying Interest

KUALA LUMPUR: Crude palm oil futures contracts on Bursa Malaysia Derivatives finished higher yesterday due to the depreciation of the ringgit to the US dollar.

Analyst David Ng said the fall of the ringgit prompted buying interest. 

February 2014 was RM45 higher at RM2,560 a tonne, March 2014 rose RM43 to RM2,568, April 2014 increased RM39 to RM2,579 and May 2014 advanced RM37 to RM2,582. June 2014 edged up RM35 to RM2,581 and July 2014 added RM33 to RM2,573.

Turnover advanced to 38,720 lots from 37,087 lots, while open the interest fell to 196,852 contracts from 208,981 contracts. 

On the physical market, December South dropped RM30 at RM2,530 a tonne.

Source :  Business Times

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