CPO futures close higher ahead of fasting month

Business & Markets 2013
Written by Bernama
Monday, 27 May 2013 20:12
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KUALA LUMPUR, May 27 (Bernama) -- Crude palm oil (CPO) futures
prices on
Malaysia Derivatives Exchange closed higher today on speculative play
following
the anticipation of higher demand ahead of the fasting month.
Interband Group Senior Palm Oil Trader Jim Teh told Bernama exports
was
actually down with May stocks expected to be higher than April but
prices was
still at a favourable level.
He said the prices were expected to hover between RM2,200 per tonne
and
RM2,300 per tonne tomorrow.
At close, June 2013 rose RM25 to RM2,365 per tonne, July 2013
increased RM8
to RM2,386 per tonne, August 2013 added RM10 to RM2,381 per
tonne and September
2013 gained RM7 to RM2,368 per tonne.
Volume fell to 21,315 lots from 32,836 lots at close last week, while
open
interest declined to 198,274 contracts from last week's 210,029
contracts.
In the physical market, May South decreased RM5 to RM2,345 per
tonne.
-- BERNAMA