CPO Futures Up on Weak Ringgit

KUALA LUMPUR: Crude palm oil futures contract on Bursa Malaysia Derivatives closed higher yesterday, prompted by the weak ringgit. 
Phillip Futures Sdn Bhd derivative product specialist David Ng said output was expected to decline due to heavy rain in key growing areas.

January 2014 rose RM47 to RM2,593, February 2014 gained RM36 to RM2,607, March 2014 rose RM33 to RM2,617 and April 2014 added RM32 to RM2,623 a tonne. 

Turnover increased to 32,019 lots from Friday’s 30,357 lots while open interest rose to 186,634 contracts from 180,810 contracts on Friday. 

On the physical market, January South was RM30 higher at RM2,590 a tonne. 

Source:  Business Times

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