CRUDE palm oil futures on Bursa Malaysia Derivatives continued its
upward momentum at the close yesterday, on the back of biofuel demand,
dealers said.
The dealers said demand for biofuel has risen, as unrest in the Middle East threatens to keep energy prices high.
March
2011 rose RM46 to RM3,665 a tonne, April 2011 increased RM46 to
RM3,624, May 2011 went up RM44 to RM3,590 and June 2011 chalked up RM37
to RM3,565.
Meanwhile, turnover rose to 35,869 lots from 24,896 lots on Tuesday
while open interests fell to 104,263 contracts from 106,457 previously.
On the physical market, March South was up RM30 to RM3,660 a tonne.
