Palm Futures Rally Continues

CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives continued

its rally to close higher yesterday, on concerns of weaker production

due to heavy rains, dealers said.

November 2010 and December 2010

rose by RM8 each to close at RM3,392 and RM3,404 respectively and

February 2011 added RM4 to RM3,395.

Total volume increased to

33,441 lots from 29,471 lots on Wednesday while open interest rose to

73,537 contracts from 72,844 previously.

On the physical market, November South rose RM10 to RM3,410 from Wednesday’s RM3,400 tonne closing price.

Source : Business Times

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