CPO Futures Ease on Reduced Demand

CRUDE palm oil futures prices on the Malaysia Derivatives Exchange ended lower yesterday with reduced demand for the commodity, dealers

said.

They said the decline in demand was reflected in reports by

two cargo surveyors – Intertek Testing Services and Societe Generale de

Surveillance, both reported a 30 per cent drop in palm oil exports in

the first ten days of April.

April 2010 declined RM5 to RM2,580 a

tonne, May 2010 added RM3 to RM2,550, June 2010 fell RM4 to RM2,531

and July 2010 eased RM3 to RM2,525.

Volume fell to 11,203 lots from 14,632 lots on Tuesday while open

interest declined to 74,101 contracts from 76,407 previously. On the

physical market, April South fell RM20 to settle at RM2,565.

Source : Business Times

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