CPO Futures Prices Close Easier

CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives closed easier

yesterday, as investors locked-in gains after the price surged to the

highest level since March 2008 in intra-day trading, dealers said. The

benchmark April CPO contract went up to as high as RM3,915.

“The

market opened higher as weather concerns lingered on floods in several

states will affect production. The stronger ringgit also supported

profit-taking,” a dealer said. He said traders are expected to continue

booking profits this week unless any bullish market factor kicks-in.

February

2011 fell RM13 to RM3,910, March 2011 dwindled RM25 to RM3,890, April

2011 eased RM27 to RM3,868 and May 2011 was down RM13 to RM3,832.

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