CPO Futures Up on Short-covering

KUALA LUMPUR: Crude palm oil futures closed higher yesteday on short covering after recent losses, a dealer said. 

He said traders were cautious, following data released by Societe Generale de Surveillance. 

The cargo surveyor said palm oil exports for November 1 – 25 fell 1.9 per cent to 1.26 million tonnes compared with the 1.28 million shipped in the same period last month.

December 2012 lost RM2 to RM2,265, January 2013 gained RM30 to RM2,385, February 2013 rose RM37 to RM2,432 and March 2013 rose RM42 to RM2,472.

Turnover was down to 30,722 lots from 34,920 lots while open interest felldecreased to 164,833 from 171,685 contracts. On the physical market, December South dropped RM20 to RM2,250 from RM2,270.

Source :  Business Times

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