Palm Ends Lower on Lack of Sustained Buying

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

closed lower yesterday on lack of strong buying, dealers said.

They

said weaker crude and soyoil prices dampened buying sentiment on the

CPO futures market.

“Players are reluctant to take heavy position

amid uncertainties in the global market,” a dealer said.

At close, July 2010 lost RM5 to RM2,406 a tonne, August 2010 declined

RM12 to RM2,358, September 2010 slipped RM11 to RM2,335 and October 2010

eased RM9 to RM2,322.

Turnover dwindled to 8,853 lots from

13,224 lots Thursday while open interest slipped to 72,093 contracts

from 72,242 Thursday.

On the physical market, July South stood

at RM2,440 a tonne.

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