CPO Futures Down on Weak Export Data

CRUDE palm oil futures closed lower yesterday on weak export data, dealers said.

Cargo surveyor Intertek Testing Services said local palm oil product exports for this month fell 8.8 per cent to 1,532,978 tonnes from 1,681,425 in October.

December 2011 lost RM58 to RM3,000 a tonne, January 2012 slid RM52 to RM3,012, February 2012 shed RM44 to RM3,018 while March 2012 shed RM46 to RM3,014.

Turnover fell 18,350 lots from 23,135 lots on Tuesday while open interest slipped to 127,359 contracts from 129,873 previously.

On the physical market, December South lost RM50 to RM3,030 a tonne.

Source: Business Times

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