CRUDE palm oil (CPO)futures on Bursa Malaysia Derivatives closed
higher yesterday, supported by China’s growth prospects and the return
of market players after the long Chinese New Year holidays, dealers
said.
The benchmark April CPO contract on Bursa Malaysia
Derivatives surged to as high as RM3,948 per tonne, hitting a three-year
high.
“A lot of Chinese players were in the market today and the price movement is good because a lot of funds are flowing into the market,” a dealer said.
February 2011 rose RM46 to RM3,971, March 2011 jumped RM46 to RM3,959,
April 2011 climbed RM41 to RM3,931 and May 2011 rose RM37 to RM3,890.
