10/05/2016 (Bernama) - Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended higher today bolstered by burgeoning demand ahead of Ramadan and positive stockpile forecasts, a dealer said.

The dealer said the palm oil stockpile is expected to drop on falling production ahead of the release of data tomorrow by the Malaysian Palm Oil Board (MPOB).

"Consumers are stocking up palm oil for cooking purposes before the start of the Ramadan celebrations," he said, adding that this festive season is expected to boost palm oil demand.

May 2016 rose RM35 to RM2,675 a tonne, June 2016 gained RM36 to RM2,673 a tonne, July 2016 increased RM34 to RM2,662 a tonne while August 2016 fetched RM30 to RM2,635 a tonne.

Turnover slipped to 39,693 lots from Friday's 55,038 lots, while open interest fell to 306,700 contracts from 323,495 contracts previously.

On the physical market, May South was RM40 higher at RM2,680 a tonne.