Palm Futures Get Boost From Rising Crude Price

CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher yesterday in line with the uptrend of other commodity prices, dealers said.

The CPO futures prices received a boost from crude oil price which rose to US$82 per barrel in trading.

At the close of CPO futures trading, the April 2010 contract added RM19 to RM2,624 per tonne, May 2010 gained RM18 to RM2,604 per tonne, June 2010 increased RM26 to RM2,594 per tonne and July 2010 rose RM30 to RM2,583 per tonne.

Overall volume declined to 15,515 lots from 20,673 lots Tuesday, while open interest rose to 84,059 contracts from 82,407 contracts previously.

On the physical market, March South climbed to RM2,630 per tonne from RM2,605 per tonne Tuesday.

Source : Business Times

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