CPO Futures Ease on Profit-Taking

CRUDE palm oil (CPO) futures contracts on Bursa Malaysia Derivatives

closed lower yesterday as traders covered their profits on growing

concerns that the US debt default will affect demand and exports of CPO,

dealers said.

The lower oil price yesterday, near US$99 (US$1.00 = RM2.97) a barrel also weighed on the market, they said.

August

2011 declined RM41 to RM3,097 a tonne, September 2011 decreased RM42 to

RM3,099 a tonne, October 2011 eased RM40 to RM3,100 a tonne and

November 2011 slipped RM42 to RM3,097 a tonne.

Turnover increased to 27,685 lots from 20,235 lots last Friday while

open interest was lower at 133,671 contracts from 135,015 contracts

previously.

Source : Business Times

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