CRUDE
palm oil futures prices on Bursa Malaysia Derivatives closed higher as
the market extended its three-day rally on concerns that weather-related
horror will cut into production, dealers said.
The La Nina
weather, the hardest to have hit in almost half a century, has resulted
in heavy rains and flooding, and is expected to cause extensive damage
to crops in Australia and Asia.
Dealers said rising food prices due to the La Nina horror was fuelling inflation fears.
January 2011 advanced RM50 to RM3,668 a tonne, February 2011 rose RM46
to RM3,646 a tonne, March 2011 increased RM60 to RM3,620 a tonne and
April 2011 gained RM63 a tonne to RM3,593 a tonne.
Source : Business Times
