Crude Palm Oil Futures Contracts Closed Higher

KUALA LUMPUR: Crude palm oil futures contracts closed higher yesterday tracking gains in prices of global crude oil and soya oil.

Phillip Futures Sdn Bhd Derivative Product Specialist David Ng said the weakening ringgit against the US dollar was also seen pushing up prices.

September 2013 improved RM23 to RM2,489 a tonne and October 2013 gained RM32 to RM2,490 a tonne. November 2013 appreciated by RM29 to RM2,481 and December 2013 increased RM26 to RM2,478 a tonne. 

Volume increased to 48,825 lots from 43,982 lots yesterday while open interest rose to 214,335 contracts from 204,971 contracts Tuesday. 

On physical market, September South increased by RM60 to close at RM2,550 a tonne. Bernama

Source : Business Times 

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