Palm Futures Dip on Higher Output Outlook

CRUDE palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed lower yesterday on expectations of higher production, dealers

said.

The Malaysian Palm Oil Board as well as cargo surveyors

Societe Generale de Surveillance and Intertek Testing Services are due

to release their production and export estimates next Monday.

A dealer said overall sentiment remained bullish as cheaper CPO prices would attract more buying interest.

April declined RM41 to RM3,375 per tonne while May and June dropped

RM48 each to RM3,338 and RM3,328 per tonne respectively. July decreased

RM39 to RM3,331 per tonne.

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