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KUALA LUMPUR. Crude palm oil or palm oil (CPO) rebounded for the first time in three days. Strengthening the CPO price rallyoccurred as world commodity prices that triggered positive newsfrom Europe.
CPO contract for December delivery on the Malaysia Derivatives Exchange rose 1% to as low as RM 2927 or the equivalent of U.S.$ 917 per metric ton, and end the morning trading session at RM2907 per metric ton.
Commodity markets rallied after the German parliament whosupported Chancellor Angela Merkel agreed to enhance Europeanbailout fund, by extending the facility's financial stability of Europe.
In addition, U.S. economic indicators also showed positive signals.The Commerce Department reported the U.S. economy grew 1.3%in the second quarter, faster than market estimates that only 1%.
Head of International Futures trading of LT (M) Sdn. ChandranSinnasamy judge, all in a position to stabilize markets after sharpfalls yesterday. "German approve further aid to Greece, but theoverall market is still uncertain. Concerns and uncertainty stillhanging," he said, today, in Kuala Lumpur.
Yesterday, CPO fallen to the lowest in the past year because offears of a global economic slowdown will hamper demand forcommodities.
source: kontan.com
please give me comments thanks
CPO contract for December delivery on the Malaysia Derivatives Exchange rose 1% to as low as RM 2927 or the equivalent of U.S.$ 917 per metric ton, and end the morning trading session at RM2907 per metric ton.
Commodity markets rallied after the German parliament whosupported Chancellor Angela Merkel agreed to enhance Europeanbailout fund, by extending the facility's financial stability of Europe.
In addition, U.S. economic indicators also showed positive signals.The Commerce Department reported the U.S. economy grew 1.3%in the second quarter, faster than market estimates that only 1%.
Head of International Futures trading of LT (M) Sdn. ChandranSinnasamy judge, all in a position to stabilize markets after sharpfalls yesterday. "German approve further aid to Greece, but theoverall market is still uncertain. Concerns and uncertainty stillhanging," he said, today, in Kuala Lumpur.
Yesterday, CPO fallen to the lowest in the past year because offears of a global economic slowdown will hamper demand forcommodities.
source: kontan.com
please give me comments thanks
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