The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange closed up 38 ringgit, or 1.8 percent, at 2,198 ringgit ($531.30) a tonne, after rising to its highest since Sept. 18 at 2,209 ringgit a tonne earlier in the session. Trading volumes stood at 44,514 lots of 25 tonnes each by the end of the session.
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to remain in range-bound trading and stay between RM1,800 and RM1,900 level next week, with the prices expected to attract physical buyers.
Interband Group of Companies Senior Trader Jim Teh said the price would be attractive for physical buyers and would help reduce the commodity's inventory.
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