Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives remained uptrend at close for four consecutive days since last Friday on concerns of supply shortage, dealers said.
CPO futures price hike was in tandem with the rise in soya oil prices as both the commodities compete for similar export destinations, they said.
At close, the contract month for February 2009 surged RM55 to RM1,920 per tonne, March 2009 rose RM39 to RM1,887 per tonne, April 2009 gained RM34 to RM1,879 per tonne and May 2009 increased RM44 to RM1,878 per tonne.
Volume increased to 11,952 lots from 11,238 lots on Wednesday while open interests declined to 84,386 contracts from 84,906 contracts previously.
On the physical market, the CPO price for February increased RM20 to RM1,900 per tonne from RM1,880 per tonne on Wednesday.
Meanwhile, the Malaysian Palm Oil Board, in a statement yesterday, said the release of the oil palm industry monthly performance for January and February has been postponed to February 11 and March 11, respectively.
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