Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed mostly higher yesterday, as recovery in oil prices prompted a wave of short-covering, a dealer said.

The market, he said also received a boost on expectation that the demand will pick up, as traders start to stock up ahead of the fasting month of Ramadan.

The July 2010 contract rose RM18 to RM2,398 a tonne and August 2010 went up RM19 to RM2,330 a tonne.

September 2010 added RM11 to RM2,301 a tonne, while October 2010 was unchanged at RM2,282 a tonne.

Source: Business Times