CPO Futures Up on Weaker Ringgit

KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives rebounded to close higher yesterday on the weakening of the ringgit.

A dealer said the trend mirrored the gains in the Chicago Board of Trade.

April 2014 rose RM24 to RM2,713 a tonne, May 2014 gained RM32 to RM2,667, June 2014 improved RM35 to RM2,648 and July 2014 added RM37 to close at RM2,637 a tonne.

Turnover surged to 55,356 lots from 48,794 lots previously and open interest rose to 237,060 contracts from 226,606 previously.

On the physical market, April South added RM10 to RM2,750 a tonne. Bernama

Source : New Straits Times 

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