Quoted from Business Times, 30.7.2010;
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.
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