Palm Futures Up on Encouraging Demand

KUALA LUMPUR: Crude palm oil (CPO) futures contract ended higher yesterday in anticipation of low stocks and encouraging demand.

Phillip Futures Sdn Bhd derivative product specialist David Ng said demand for the commodity was expected to remain robust given the Ramadhan month.

Both July 2013 and August 2013 gained RM27 each to RM2,396 and RM2,405 a tonne, respectively, September added RM21 to RM2,397 and October 2013 rose RM15 to RM2,384.

Turnover rose to 32,508 lots from 28,252 lots while open interest increased to 213,342 contracts from 207,192 on Monday.

Source : Business Times

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