Palm Futures Close Higher

KUALA LUMPUR: The crude palm oil futures contracts on closed higher yesterday on the back of a weaker ringgit, dealers said.

Phillip Futures derivative product specialist David Ng said CPO futures was supported by encouraging data for local palm exports and China’s Purchasing Managers’ Index. 

Spot month September 2013 rose RM9 to RM2,402 a tonne, October 2013 added RM15 to RM2,366, November 2013 was RM21 higher at RM2,356 and December 2013 added RM23 to RM2,351. 

Volume increased to 39,820 lots from 38,333 lots on Wednesday while open interest fell to 209,520 contracts from 212,354 previously.

On the physical market, September South gained RM5 to RM2,410 a tonne. 

Source : Business Times 

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