Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed higher yesterday, supported by gains in crude oil prices, dealers said.
They said that speculation concerning favourable export data for December also boosted the market sentiment.
“So far, the palm oil export figures are very good. We expect the export figures for December to be higher,”
one of the dealers said.
According to cargo surveyor Intertek Testing Services, exports for the December 1-25 period soared 24 per cent to 1,345,325 million tonnes from 1,087,865 tonnes shipped in the same period last month.
Societe Generale de Surveillance also reported that exports for the December 1-25 period rose by 23.5 per cent to 1,339,255 tonnes from 1,084,545 in the corresponding period last month.
At close, January 2009, February 2009 and March 2009 went up by RM81 each to settle at RM1,676 per tonne, RM1,672 per tonne and RM1,671 per tonne respectively while April 2009 gained RM80 to be at RM1,670 per tonne.
Yesterday’
s turnover was higher at 10,556 lots compared with 7,621 lots last Friday while open interest increased to 83,899 contracts from 83,541 contracts previously.
On the physical market, January South rose to RM1,680 per tonne from RM1,610 previously.
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