Business Times
Thursday - November 20, 2008
CPO FUTURES

Crude palm oil (CPO) futures prices ended higher on Bursa Malaysia Derivatives yesterday despite the falling crude oil prices, a dealer said.

According to the dealer, the bullish momentum for the commodity was influenced by expectations that export figures for the first 20 days of the month to be released tomorrow, will improve further.

Cargo surveyors, Societe Generale de Surveillance and Intertek Testing Services will release the export data.

At the close of the CPO futures trading yesterday, December 2008 increased RM45 to RM1,470 per tonne, January 2009 climbed RM45 to RM1,480, February 2009 jumped RM44 to RM1,480 and March 2009 rose RM44 to RM1,482.

Yesterday’s volume stood at 18,518 lots versus 11,206 lots yesterday while open interests increased to 88,958 contracts from 87,776 contracts.

On the physical market, November South was higher at RM1,480 per tonne from RM1,450 previously.

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