Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed higher yesterday in active trading on technical rebound, dealers said.They said the market managed to recover from yesterday’s losses as concerns over supply shortage helped to boost the prices.
A dealer said the local CPO market also took the cue from the firmer prices of soyabean overnight.
“Market sentiment was generally positive amid strong exports and low stocks level,” he said.
At the close, May 2009 delivery climbed RM56 to settle at RM2,833 per tonne.
June 2009 contract advanced RM59 to RM2,754 per tonne while both July 2009 and August 2009 contracts surged RM55 each to RM2,680 per tonne and RM2,625 per tonne respectively.
Volume rose to 28,609 lots from 22,092 lots on Tuesday. Open interests, however, fell to 82,302 contracts from 83,059 contracts previously.
On the physical market, May South rose to RM2,850 per tonne from RM2,800 the previous day.
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