CPO Futures Ease on High Stock Level

CRUDE palm oil futures on Bursa Malaysia Derivatives closed lower yesterday on expectations of a rise in stocks, dealers said.

“The high level of stocks will likely result in the downward trend in the market,” a dealer said.

June 2011 closed RM44 lower at RM3,434 a tonne, July declined RM44 to

RM3,404, August slipped RM33 to RM3,388 and September eased RM31 to

RM3,381.

Turnover declined to 15,424 lots from 25,710 lots last Friday while open

interest slipped to 107,608 contracts from 109,727 previously.

On the physical market, June South ended RM30 lower at RM3,450 a tonne from RM3,480 last Friday.

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