Palm Futures Rise on Hope of Better Export Figures

CRUDE palm oil futures prices on Bursa Malaysia Derivatives closed higher yesterday as a rebound in crude oil prices improved sentiment and on expectations of better export figures, dealers said.

July 2011 gained RM3 to close at RM3,083 a tonne, August 2011 rose RM20 to RM3,070, September 2011 increased RM21 to RM3,063 and October 2011 was up RM22 to RM3,062.

Turnover fell to 25,407 lots from

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29,371 lots on Monday. Open interest increased to 117,143 contracts from 115,534 previously.

On the physical market, July South was flat at RM3,110 per tonne.