CPO Futures Dip on Weak Sentiment

CRUDE palm oil futures contract on Bursa Malaysia Derivatives closed

lower yesterday in tandem with other weak global commodity markets,

dealers said.

They said concerns over palm oil supply and subdued

demand in the physical market weakened market sentiment, globally,

against a backdrop of a stronger US dollar.

The downtrend was

also due to investors concerned over the possibility of China tightening

further its monetary policy to fight inflation.
May trimmed RM25 to RM3,385 a tonne, June fell RM24 to RM3,285 a tonne,

July decreased RM36 to RM3,229 and August was unchanged at RM 3,255.

However,turnover

rose to 28,605 lots from 24,367 lots on Wednesday, while open interest

amounted to 108,476 contracts from 105,814 contracts on Wednesday.

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