KUALA LUMPUR: Crude palm oil futures prices on Malaysia Derivatives Exchange closed higher yesterday in anticipation of lower production and inventories, a dealer said.

Phillip Futures Sdn Bhd derivative product specialist David Ng said the prices were also higher ahead of the release of the Malaysian Palm Oil Board report.

July 2014 firmed RM8 to RM2,466, August 2014 added RM15 to RM2,435, September 2014 rose RM12 to RM2,414 and October 2014 increased RM10 to RM2,407 per tonne.

Volume edged up to 40,451 lots from 29,091 lots on Friday while open interest increased to 249,894 contracts from 236,240 contracts.

On the physical market, July South decreased RM15 to RM2,460 per tonne.Bernama

Source : New Straits Times