CPO Easier on Profit-taking

KUALA LUMPUR: The crude palm oil (CPO) futures contract prices on Bursa Malaysia Derivatives ended easier yesterday on profit-taking, a dealer said.

Jim Teh, Senior Palm Oil Trader, Interband Group of Companies, said external factors such as gloomy global economic outlook and easing crude oil price also bogged down the price.

“Other commodities were mostly on downtrend too,” he added.

Spot month June 2012 declined RM29 to RM2,925 per tonne, nearby July 2012 was easier by RM7 to RM2,973 per tonne, August 2012 shed RM1 to finish at RM2,973 per tonne and September 2012 lost RM5 to RM2,970 per tonne.

Volume decreased to 31,567 lots from 34,801 lots while open interest edged down to 98,671 contracts from 98,735 contracts.

On the physical market, June South shed RM10 to RM2,990 per tonne. Bernama

Source:  Business Times

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