KUALA LUMPUR: Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives ended broadly higher as better-than-expected exports data helped boost market sentiment.
Phillip Futures Sdn Bhd derivatives dealer David Ng said the stronger exports data signalled improved demand.
“We locate the support level at RM2,100 a tonne and immediate resistance at RM2,220 a tonne,” he said.
Cargo surveyor Intertek Testing Services reported that exports of Malaysian palm products for December 1-20 rose 8.8 per cent to 911,595 tonnes, compared with the same period last month.
January 2015 increased RM12 to RM2,172 a tonne, February 2015 rose RM16 to RM2,169 a tonne, March 2015 gained RM17 to RM2,170 a tonne, and April 2015 added RM18 to RM2,174 a tonne.
Volume fell to 32,464 lots from the 39,350 lots last Friday, while open interest decreased to 211,205 contracts from 219,940 contracts.
On the physical market, January South stood at RM2,165 a tonne. Bernama