Palm Futures Up on Buying Interest

KUALA LUMPUR: Crude palm oil futures prices on Bursa Malaysia Derivatives closed higher yesterday spurred by buying interest in the commodity. 

Phillip Futures derivative product specialist Wong Teck Weng said the local market was also boosted by the fall in the ringgit to the US dollar, thus attracting international buyers. 

Meanwhile, November 2013 gained RM39 to RM2,431, December 2013 firmed RM38 to RM2,437, January 2014 rose RM36 to RM2,437 and February 2014 added RM35 to RM2,438 a tonne. 

Volume eased to 25,240 lots from 28,174 lots while open interest fell to 179,845 contracts from 184,141 previously.

On the physical market, November South appreciated by RM30 to close at RM2,430 a tonne.

Source : Business Times 

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