KUALA LUMPUR: Crude palm oil futures prices closed higher yesterday, tracking gains in the soyabean oil market, dealers said.

“The market is playing a catch-up game here after soya bean oil gained so much,” a dealer said.

Meanwhile, spot month September 2012 rose RM37 to RM2,935 a tonne, October advanced RM54 to RM2,982, November 2012 increased by RM49 to RM3,011 and December 2012 gained RM52 to RM3,037 a tonne.

Volume rose to 41,149 lots from 32,367 lots on Friday while open interest rose to 147,369 contracts from 143,930 contracts previously.

On the physical market, September South closed RM70 higher at RM2,970 a tonne. Bernama

Source :  Business Times