Palm Futures Extend Gains

KUALA LUMPUR: The crude palm oil futures (CPO) contract on Bursa Malaysia Derivatives extended its gains to close steadier prompted by external demand for the commodity, dealers said.

The market expectation is for offtake to rise this month judging from the previous export pattern recorded for the first ten days of March.

March 2012 and April 2012 advanced RM18 each to RM3,376 and RM3,380 per tonne, respectively, May 2012 added RM20 to RM3,385 per tonne and June 2012 was RM22 higher at RM3,378 per tonne.

Volume jumped to 24,003 lots, from 22,597 lots yes-terday, while open inte-rest eased to 122,110 contracts, from 127,321 contracts, recorded previously.

Source: Business Times

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