February 7, 2009 1:00 GMT+8
Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives ended higher yesterday for five consecutive days of a bullish trend, while tracking the steady crude oil and soybean prices, dealers said.
Concerns over a tight supply of palm oil had contributed to the firmer prices on the local CPO market yesterday, they added.
At close, the contract month for February 2009 rose RM5 to settle at RM1,925 per tonne and March 2009 added RM12 to RM1,899 per tonne.
The CPO futures for April 2009 increased RM1 to RM1,880 per tonne and May 2009 advanced RM9 to RM1,887 per tonne.
Yesterday’s volume went up to 16,985 lots compared with Thursday’s 11,952 lots while open interests fell to 84,043 contracts from 84,386 contracts previously.
On the physical market, the CPO price for February remained flat at RM1,900 per tonne.
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