CPO Futures Up on Short Covering

KUALA LUMPUR: Crude palm oil futures contracts were traded higher yesterday, influenced by short- covering and bargain-buying interest after a sharp fall in prices.

Phillip Futures anlyst David Ng said the performance of the contracts tracked gains on the Chicago Board of Trade.

April 2014 rose RM32 to RM2,871 a tonne, May 2014 gained RM45 to RM2,812 a tonne, June and July added RM40 each to RM2,777 and RM2,743, respectively.

Turnover rose to 56,790 lots from 50,203 lots previously while open interest went up to 244,145 contracts from 236,684 previously.

On the physical market, April South added RM30 to RM2,900 a tonne. Bernama

Source : New Straits Times

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