Crude palm oil futures on Bursa Malaysia Derivatives closed higher yesterday ahead of the fasting month in August, said dealers.

The market also took the cue from the increase in soyabean prices.

July 2010 rose RM5 to RM2,465 a tonne, August added RM36 to RM2,459. September gained RM58 to RM2,439 a tonne and October increased RM48 to RM2,411 a tonne.

Volume rose to 30,313 lots, from 10,665 lots on Wednesday. Open interest however shed to 71,380 contracts from 72,521 contracts previously.

On the physical market, July South ended RM10 higher at RM2,470 a tonne.

Source: Business Times