Palm Futures Expected to Rebound

Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives are

expected to rebound next week amid expectations of good export figures

for the first half of this month, dealers said.

A dealer said during the current festive season, the demand was expected to be strong.

He said although the market sentiment has improved, there were still some concerns about the US and Europe debt.

The dealer expected the benchmark month of October to be in the range of RM3,050-RM3,150 next week.

On a weekly basis, August lost RM28 to RM3,100 per tonne, September 2011

shed RM17 to RM3,062, October 2011 fell RM36 to RM3,015 and November

2011 dropped RM61 to RM2,983.

Turnover increased to 151,415 lots from 116,785 lots last week

while the open positions rose to 134,409 contracts at the end of this

week against 127,541 contracts a week ago.

On the physical market, August South rose by RM10 to RM3,150 per tonne. — Bernama

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