Palm Futures Steadier on External Boost

CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher yesterday on positive support from external markets.

A dealer said firmer soyaoil, soyabean and crude oil market had all pushed palm oil higher. He added that the market is likely to remain supportive until the Hari Raya Puasa.

However, another dealer said that most traders are still cautious over uncertainties in the global economy.

Spot month September gained RM36 to close at RM3,161 a tonne and October added RM48 to RM3,104. The benchmark month of November added RM46 to RM3,068 and December gained RM46 to RM3,054.

Source : Business Times

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