CPO Futures Up on Weaker Ringgit

KUALA LUMPUR: The crude palm oil (CPO) futures contract ended higher yesterday as a weaker ringgit fuelled hopes of greater export demand, dealers said.

A dealer said demand for palm oil could also be boosted by the weaker Indonesian rupiah.

September 2013 rose RM13 to RM2,393 a tonne, October 2013 added RM7 to RM2,351, November 2013 was RM12 higher at RM2,335 and December 2013 gained RM5 to RM2,328 a tonne.

Volume declined to 38,333 lots from 47,286 lots while open interest decreased to 212,354 contracts from 221,699 contracts previously.

On the physical market, September South appreciated RM5 to RM2,405 a tonne.

Source : Business Times 

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