KUALA LUMPUR: Crude palm oil futures closed slightly higher yesterday on continuous demand amid bullish sentiment from favourable export data.

A dealer said buyers continued to shift their demand to tropical oils on concerns that the drought in the US would hurt soyabean oil production.

July 2012 rose RM12 to RM3,015 a tonne, August 2012 rose RM5 to RM3,023.

Meanwhile, September 2012 and October 2012 added RM2 each to RM3,032 and RM3,037 respectively.

Volume fell to 16,908 lots from 26,177 lots while open interest rose to 93,516 from 93,261 contracts previously.

On the physical market, June South stayed at RM3,030 a tonne.

Source : Business Times

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