Palm Futures Extend Gains

KUALA LUMPUR: Crude palm oil futures prices on extended gains yesterday prompted by promising February US job data, said a dealer.

“The market expected a good data and this boosted prices of futures contracts,” she said.

The US will issue a more comprehensive private and public sector employment data for February today.

She also said that positive conclusions reached at the just-ended Bursa Malaysia Palm Oil Conference 2012 continued to support prices.

March 2012 and April 2012 surged by RM35 each to RM3,290 and 3,310 a tonne, May 2012 increased RM37 to RM3,303 while June 2012 added RM34 to RM3,293.

Volume fell to 19,528 lots from 22,106 on Wednesday. On the physical market, March South increased RM30 to RM3,290 a tonne.
Source : Business Times

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