Crude palm oil futures on Bursa Malaysia Derivatives are expected to
trade higher next week on expectations of lower production, dealers
said.
Industry regulator, the Malaysian Palm Oil Board, is due to release
the export, output and stock figures for March on Wednesday.
During the week just ended, the market saw rangebound trading due
to bearish external markets. Most of them, including the palm oil market
in top producer Indonesia, were closed yesterday for Good Friday.
On a Friday-to-Friday basis in the local market, the April 2010
contract rose RM6 to RM2,605 per tonne, May 2010 added RM6 to RM2,571,
June 2010 increased RM25 to RM2,559 and July 2010 inched up RM25 to
RM2,546.
Total turnover rose to 79,674 lots from 63,462 lots while open
interest increased to 83,116 contracts from 78,501 contracts.
On the physical market, April South stood at RM2,600 per tonne. —
Bernama
Source : Business Times
