CPO Futures Lower as Oil, Equity Marts Decline

CRUDE palm oil (CPO) futures prices, despite strong export numbers,

ended lower yesterday on Bursa Malaysia Derivatives due to further

declines in crude oil and equity markets, dealers said.

They said

crude oil fell to US$68 (US$1.00 = RM3.32) per barrel on growing

concern that Europe’s debt crisis would derail the global economic

recovery and encourage investors to reduce riskier assets.

A

dealer said sovereign debt issue in Greece and possible contagion to

other economies in euro zone was also curbing risk appetite for

commodities.

June 2010 declined by RM25 to close at RM2,505 per tonne, July 2010 was

RM36 lower at RM2,472, August 2010 dropped RM54 to RM2,436 while

September 2010 dipped RM51 to RM2,421.

Source : Business Times

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