Palm Futures Up on Lower Output

KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended higher yesterday due to lower ringgit against US dollar and the fall in domestic output due to heavy rain, a dealer said.

Phillip Futures Sdn Bhd Investment Analyst, David Ng, said the release of lower export data by cargo surveyor, Intertek Testing Services, has not affected the market.

January 2014 surged RM9 to RM2,612, February 2014 increased RM9 to RM2,626, March 2014 was up RM9 to RM2,634 and April 2014 rose RM11 to RM2,640 a tonne.

Turnover increased to 15,376 lots from 12,883 lots on Tuesday while open interest rose to 169,189 contracts from 168,004 contracts previously.

Source :  Business Times

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