CPO Futures End Lower on Profit Taking

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

closed lower yesterday on profit-taking and a stronger ringgit, dealers

said.

They said the stronger ringgit, which was quoted yesterday

at 3.26 to the US dollar from 3.29 on Wednesday, encouraged investors to

unwind positions.

Expectation of low stocks limited the losses,

said one of the dealers who added that the Malaysian Palm Oil Board is

scheduled to announce the May production, exports and ending stocks data

next week.

At the closing yesterday, June 2010 rose RM3 to settle at RM2,538 per

tonne while July 2010 went down RM13 to RM2,492 per tonne, August 2010

dropped RM12 to RM2,456 per tonne and September 2010 fell RM16 to

RM2,429 per tonne. – Bernama

Source : Business Times

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