CPO futures close higher on stronger ringgit

Business & Markets 2013
Written by Bernama
Tuesday, 07 May 2013 19:53
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KUALA LUMPUR (May 7): Crude palm oil (CPO) futures contracts on
Bursa Malaysia Derivatives closed higher on the ringgit's recent
strength, following Barisan Nasional's victory in the 13th General
Election, dealers said.
"However, traders remained cautious in their trading following the weak
export data and high inventory.
"They were also skeptical ahead of the release of Malaysian palm oil
inventory data by the Malaysian Palm Oil Board by Friday, May 10," he
told Bernama.
Spot month May 2013 and June 2013 each increased RM9 to RM2,238
a tonne and RM2,258 a tonne respectively, July 2013 improved RM10
to RM2,260 a tonne and August 2013 added RM8 to RM2,256 a tonne.
Turnover slipped to 22,230 lots from 22,837 lots on Monday and open interest advanced to 185,809 contracts from 185,243
contracts previously.
On the physical market, May South increased RM10 to RM2,270 a tonne. -- BERNAMA