Palm Futures Up on Short-covering

KUALA LUMPUR: The crude palm oil (CPO) futures contract prices on Bursa Malaysia Derivatives closed firmer yesterday on short-covering, dealers said.

At the close, spot month July 2012 and August 2012 jumped RM32 each to RM3,126 and RM3,142 a ton-ne respectively, September 2012 increased RM23 to RM3,153 and October 2012 was RM22 higher to RM3,155.

Volume dropped to 19,280 lots from 26,272 lots last Friday while open interest slipped to 123,590 contracts from 130,635 contracts previously.
On the physical market, July South rose RM30 to RM3,150 a tonne.


Source : Business Times

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