Crude palm oil futures prices closed higher yesterday, as the commodity inched up above RM3,000 a tonne, dealers said.

The Chinese soyaoil futures also hit a two-year high. At the close, November 2010 rose RM5 to settle at RM2,995 a tonne, December 2010 was unchanged at RM2,990 , January 2011 was RM6 higher at RM2,990 and February 2011 gained RM9 to RM2,987.

Volume fell to 14,910 lots from 19,252 on Wednesday while open interest rose to 71,596 contracts from 71,412. On the physical market, September South was up RM10 to RM3,000 a tonne. – Bernama

Source: Business Times