CPO Futures Close Weak

CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed

lower yesterday on reports of higher production which would increase

the level of stocks.

According to a news report, production will

continue to rise in July and beyond, due to good weather in the main

planting areas. The report also said that exports may slow down as

demand requirements for the fasting month have been met.

The July 2011 contract fell RM20 to RM3,055 per tonne, August 2011

decreased by RM11 to RM3,050 per tonne and September 2011 dropped RM10

to RM3,040 per tonne while October 2011 fell RM8 to RM3,039 per tonne.

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