CPO prices close higher

KUALA LUMPUR: Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives ended higher yesterday amid the rebound on the crude oil market, a dealer said.

Phillip Futures derivatives product specialist, David Ng, said the widening spread with the soya oil also contributed to the optimism.

He said the support level was located at RM2,150 and immediate resistance at RM2,250.

At the close, December 2014 and January 2015 gained RM29 to RM2,129 and RM2,146 a tonne respectively, February 2015 increased RM33 to RM2,142 a tonne, and March 2015 was up RM31 to RM2,143 a tonne.

Volume decreased to 45,849 lots from 59,556 lots yesterday, while open interest declined to 250,380 contracts from 269,888 contracts previously.

On the physical market, December South was RM30 higher at RM2,160 a tonne. Bernama.

Source : New Straits Times

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