Palm Futures Up on Buying Interest

KUALA LUMPUR: Crude palm oil (CPO) futures closed higher yesterday spurred by buying interest. 

Phillip Futures Sdn Bhd Derivative Product Specialist David Ng said the CPO futures closed marginally higher, but was on an upward bias.

November 2013 rose RM5 to RM2,594, December 2013 gained RM5 to RM2,602, January 2014 added RM5 to RM2,604 and February 2014 rose RM5 to RM2,606 a tonne. 

Volume rose to 38,273 lots from 30,466 lots on Tuesday, while open interest increased to 186,295 contracts against 177,315 contracts previously.

On the physical market, November South was unchanged at RM2,600 a tonne.

Source : Business Times 

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