CPO Futures Retreat, But Still Eyeing RM3,000

CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower yesterday.

A

dealer said the market was still eyeing to hit the RM3,000 level and

waiting for cargo surveyors, Intertek Testing Services and Societe

General de Surveillance, to announce their export estimates for the

October 1-20 period.

The November 2010 contract fell RM40 to

RM2,890 per tonne, December 2010 slipped RM43 to RM2,887 per tonne,

January 2011 lost RM47 to RM2,889 per tonne and February 2011 dropped

RM46 to RM2,890 per tonne.

Total volume rose to 20,653 lots from 19,448 lots last Friday.

Source : Business Times

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