KUALA LUMPUR: Crude palm oil (CPO) futures prices on the Malaysia Derivatives Exchange traded lower yesterday amid worries over a rise in the current inventory.
The market remained under pressure because of a stronger ringgit against the dollar, Phillip Futures Sdn Bhd derivative product specialist David Ng said.
Technically, for the August CPO contract, a decline below the 2,475 level will continue the slide towards the 2,440-2,410 levels, Ng said.
At close, June 2014 fell RM48 to RM2,460 a tonne, July 2014 slipped RM41 to RM2,464, August 2014 shed RM42 to RM2,461 and September 2014 decreased RM43 to RM2,459. Bernama
Source : New Straits Times