Palm Futures Rise Boosted by Demand

KUALA LUMPUR: Crude palm oil futures contracts on Bursa Malaysia Derivatives closed on a firm note again yesterday, boosted by better demand, a dealer said. 

Spot month November 2013 surged RM85 to RM2,585 a tonne, December 2013 climbed RM50 to RM2,557, January 2014 appreciated by RM49 to end the day’s trade at RM2,547 and February 2014 improved RM47 to close at RM2,542.

Volume rose to 49,517 lots from 48,213 lots on Tuesday, while open interest narrowed to 195,693 contracts versus 202,021 recorded on Tuesday.

On the physical market, November South added RM40 to RM2,540 a tonne.

Source : Business Times 

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