CPO futures close higher

Business & Markets 2013
Written by Bernama
Thursday, 23 May 2013 19:48
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KUALA LUMPUR (May 23): Crude palm oil (CPO) futures prices on
Malaysia Derivatives Exchange closed higher today on strong buying
interest, dealers said.
One of the dealers said the anticipation of higher demand mostly from
the Middle East countries ahead of the Ramadan fasting month had
boosted the demand for the commodity.
At close, June 2013 rose RM24 to RM2,340 per tonne, July 2013
increased RM37 to RM2,378 per tonne, August 2013 added RM12 to
RM2,371 per tonne and September 2013 gained RM11 to RM2,361 per
tonne.
Volume fell to 32,836 lots from 39,618 lots on Wednesday, while open
interest declined to 210,029 contracts from yesterday's 214,012
contracts.
In the physical market, May South increased RM20 to RM2,350 per
tonne.
The market will be closed tomorrow for Wesak Day holiday and will
resume trading next Monday. -- BERNAMA