CPO Futures Up on Strong Buying Interest

KUALA LUMPUR: Crude palm oil futures closed higher yesterday, backed by strong buying interest and gains in commodities, dealers said.

“Expectations of tight global vegetable oil stocks and strengthening demand during the Ramadan fasting month in Asia, are keeping prices supported,” a dealer said.

July 2012 gained RM6 to RM3,113 a tonne, August 2012 surged RM41 to RM3,154, September 2012 and October 2012 added RM42 to RM3,164 and RM3,167, respectively.
Volume rose to 34,937 lots from 26,553 lots, while open interest hit 133,992 from 124,088 contracts Wednesday.

On the physical market, July South rose RM30 to RM3,150.


Source : Business Times

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