CPO Futures Up on Weaker Ringgit

KUALA LUMPUR: Crude palm oil futures prices on Bursa Malaysia Derivatives closed higher on the back of a weaker ringgit against the US dollar.

However, rising palm oil inventories in Malaysia this month and weaker-than-expected Chinese HSBC Purchasing Managers index reading were seen limiting the rise in prices.

Spot month October 2013 rose RM5 to RM2,355 a tonne, November 2013 gained RM1 to RM2,317 a tonne, December 2013 increased RM10 to RM2,320 a tonne and January 2014 advanced RM13 to RM2,325 a tonne. 

Volume declined to 29,246 lots from 35,273 lots on Friday while open interest expanded to 182,723 contracts versus 168,501 contracts previously. 

On the physical market, October South increased RM10 to RM2,360 a tonne.

Source : Business Times 

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