KUALA LUMPUR, Oct 31 — Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives breached the RM2,300-level today on strong demand for the commodity, a dealer said.
He said the positive sentiment was due to better demand coming from biofuel coupled with the strong performance of the Chicago soybean oil market.
At close, November 2014 rose RM20 to RM2,295 a tonne, December 2014 gained RM22 to RM2,287 a tonne while both January 2015 and February 2015 jumped RM26 each to RM2,306 a tonne and RM2,306 a tonne, respectively.
Volume decreased to 47,432 lots from 65,212 lots on Thursday while open interest narrowed to 272,364 contracts from 300,083 contracts.
On the physical market, November South was RM30 higher at RM2,320 a tonne. — Bernama
