Palm Futures end Higher on Speculation Play

KUALA LUMPUR: Crude palm oil (CPO) futures prices closed higher yesterday on speculative play following the anticipation of higher demand ahead of the fasting month. 

Interband Group Senior Palm Oil Trader Jim Teh said exports were actually down but prices were still holding at favourable levels. 

June 2013 rose RM25 to RM2,365 a tonne, July 2013 increased RM8 to RM2,386, August 2013 added RM10 to RM2,381 and September 2013 gained RM7 to RM2,368. 

Volume fell to 21,315 lots from 32,836 lots, while open interest slipped to 198,274 from 210,029 contracts. 

On the physical market, May South fell RM5 to RM2,345 a tonne.

Source : Business Times 

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