KUALA LUMPUR: Crude palm oil (CPO) futures closed higher yesterday amid concerns over production difficulty due to seasonal cycle, a dealer said.
Besides that, he said the positive sentiment in the soy oil market also helped support the commodity's prices.
“However, traders are cautious ahead of key cargo surveyors' numbers which will be released early next week,” he added.
At the close, November 2014 advanced RM26 to RM2,185 a tonne, December 2014 gained RM31 to RM2,173 a tonne, January 2015 rose RM35 to RM2,170, and February 2015 jumped RM36 to RM2,172 a tonne.
Volume increased to 56,718 lots from 36,048 lots on Tuesday.
Open interest widened to 310,574 contracts from 289,376 contracts previously.
On the physical market, November South was RM20 higher at RM2,190 a tonne.
The market was closed on Wednesday for the Deepavali holiday. Bernama