CPO Futures Down on Broad-Based Selling

CRUDE palm oil futures prices on Bursa Malaysia Derivatives closed lower yesterday on broad-based selling in the commodity markets and concerns over slower demand after India increased interest rate to curb inflation, dealers said.

February 2011 declined by RM29 to close at RM3,748 a tonne, March 2011 fell RM37 to RM3,720, April 2011 shed RM33 to RM3,670 and May 2011 slipped RM30 to RM3,609.

Turnover declined to 21,679 lots from 24,436 lots on Tuesday. Open interest rose to 87,641 contracts from 87,619 previously.

On the physical market, February South fell RM50 to RM3,750 compared with RM3,800. – Bernama

Source : Business Times

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