PRICES of crude palm oil (CPO) futures contracts on Bursa Malaysia
Derivatives ended higher yesterday on the back of steady crude oil
price, dealers said.
Concerns on a shortage of supply due to the
rainy season and price rise in commodities generally were also among
contributing factors to the positive trend, a dealer said.
“The
market should remain steady as festival period buying remains strong
with demand coming from China, India, Pakistan and Indonesia,” the
dealer said.
At close, CPO futures contracts for August 2010 and September 2010 rose
RM14 each to close at RM2,585 and RM2,542 a tonne respectively, while
October 2010 and November 2010 both were RM19 higher at RM2,514 and
RM2,506 a tonne respectively.
