KUALA LUMPUR: Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed higher yesterday on the back of strong performance of the soyabean oil market.

“However, sluggish performance in exports for the month of August raised concerns over higher inventory which weighed on CPO prices,” said Phillip Futures Sdn Bhd Derivatives Product Specialist David Ng.

At the close, September 2014 increased RM27 to RM1,964 a tonne, October 2014 added RM21 to RM1,950 a tonne, November 2014 rose RM23 to RM1,952 a tonne and December 2014 went up by RM22 to close at RM1,988 a tonne.

Volume declined to 55,627 lots from 59,300 lots last Friday while open interests increased to 321,692 contracts from 316,694 contracts previously.

On the physical market, September South was unchanged from last Friday’s RM1,980 a tonne. Bernama

Source : New Straits Times