PALM oil prices bounced from one-month lows hit early yesterday, as persistent worries that demand will outstrip supplies, buoyed prices.
The benchmark April 2011 crude palm oil contract on Bursa
Malaysia Derivatives ended up 0.6 per cent at RM3,670 a tonne, after
going as low as RM3,610 a tonne earlier.
Overall, traded volume stood at 11,293 lots of 25 tonnes each, compared with 10,525 lots on Monday.
“The weather is supporting the market, followed by good 15-day export
numbers,” said one Malaysian trader. “(But) the market is range-bound.”
Source : Business Times
