MAY 13, 2009 3:00 GMT+8
Crude palm oil futures higher on supply concerns
NEWS SOURCE:
www.btimes.com.my
RELATED PALM OIL NEWS
Crude palm oil futures higher on output concerns
Profit-taking halts crude palm oil palm futures rally MPOB report will provide lead on crude palm oil futures Crude palm oil futures higher on technical rebound Crude palm oil futures hit by massive selling Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed higher yesterday on concerns over supply following the current hot and dry weather, dealers said.
A dealer said the hot spell would affect the yield of palm oil production. In this situation, he said Malaysia would be unable to yield double-digit production.
At the close, the CPO futures for May 2009 increased RM35 to settle at RM2,860 per tonne, the June 2009 contract rose RM55 to RM2,795 per tonne, July 2009 advanced RM65 to 2,725 per tonne and August 2009 gained RM65 to 2,670 per tonne.
The day’s volume declined to 13,619 lots from the previous day’s 20,202 lots while open interests rose to 78,354 contracts from 78,227 contracts earlier. On the physical market, May South increased to RM2,870 per tonne from yesterday’s RM2,850 per tonne.
Wednesday, May 13, 2009
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