Palm Futures Up on Buying Interest

KUALA LUMPUR: The crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended mostly higher on last minute buying interest, dealers said.

They said the market received a boost after Plantation Industries and Commodities Minister Tan Sri Bernard Dompok earlier yesterday said Malaysia would allow shipments of CPO at zero duty in February, to reduce record stockpiles and boost competition with Indonesia.

January and February rose RM7 each to RM2,276 per tonne and RM2,340 per tonne respectively, March was up RM3 to RM2,371, but April shed RM1 to RM2,395.

Turnover fell to 36,146 lots from last Friday’s 45,433 lots, while open interest decreased to 204,680 contracts from 213,783 contracts.

Source :  Business Times

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