CPO Futures Down on Weaker Export Data

CRUDE palm oil futures prices on Bursa Malaysia Derivatives closed lower

yesterday tracking the downtrend in soyaoil prices and the Dalian

Commodity Exchange, dealers said.

Players also reacted to the

weaker export data released by cargo surveyor Societe Generale de

Surveillance (SGS). SGS said Malaysia palm oil products export for the

first 25 days of January declined 2.1 per cent to 1,017,913 tonnes from

1,040,145 tonnes shipped during the same period last month.

The

futures contracts saw February 2011 declining RM38 to close at RM3,777 a

tonne, March 2011 fell RM44 to RM3,757 a tonne, April 2011 shed RM48 to

RM3,703 a tonne and May 2011 slipped RM51 to RM3,639 a tonne.

Source : Business Times

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