CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives closed
mostly firmer yesterday on expectations of a higher overseas demand and
bullish export data to be released next week.
The Malaysian Palm
Oil Board (MPOB) report is scheduled to be released next Wednesday.
According
to a dealer, investors are also hoping exports would be strong in
February based on demand from India and Pakistan. This will also limit
losses in palm oil prices.
At yesterday close, the February 2010 contract gained RM1 to RM2,525 per
tonne, March 2010 increased RM11 to RM2,530 per tonne, April 2010 added
RM11 to RM2,521 per tonne and May 2010 was RM18 higher at RM2,519 per
tonne.
Turnover rose to 15,644 lots from 14,814 lots on Thursday
while open interests declined to 74,744 contracts from 77,430 contracts
previously.
On the physical market, February South rose to
RM2,530 per tonne from the RM2,510 per tonne on Thursday.
Source : Business Times
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