KUALA LUMPUR: Crude palm oil futures on Bursa Malaysia Derivatives closed higher yesterday recovering from Thursday’s downtrend, on comments by the ECB president Mario Draghi that the bank will prevent a collapse of the eurozone, dealers said.

However, market players are expecting the positive sentiment to be shortlived.

August 2012 rose RM46 to RM2,901 a tonne, September 2012 added RM46 to RM2,915, October 2012 gained RM45 to RM2,927 and November 2012 increased RM45 to RM2,935.
 
On the physical markt, August South gained RM20 to RM2,920 a tonne.

Turnover rose to 32,356 lots from 27,567 lots while open interest was higher at 116,012 contracts from 111,786 contracts previously. Bernama

Source : Business Times

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