Palm Futures Higher Lift by Supply Woes

KUALA LUMPUR: Crude palm oil futures on Bursa Malaysia Derivatives ended higher yesterday on concerns over tight supply due to worsening flood and weather conditions on in major plantation areas in the east coast of Peninsular Malaysia, dealers said. 

January 2013 surged RM9 to RM2,308 a tonne, February 2013 appreciated by RM8 to RM2,386, March 2013 was up RM2 to RM2,430 and April 2013 rose RM1 to RM2,477.

Turnover fell to 16,062 lots from 18,637 lots previously while open interest decreased to 170,758 contracts from 172,113 contracts previously.

On the physical market, January South remained the same level as Monday’s close of RM2,270 a tonne.

Source :  Business Times

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