Palm Futures Lower on Choppy Trading

KUALA LUMPUR: Crude palm oil futures (CPO) on Bursa Malaysia Derivatives closed lower in choppy trading yesterday, dealers said.

The dealers also said the market was now awaiting the release of Malaysian palm oil exports data for the first 10 days of this month today by Cargo surveyors, Intertek Testing Services and Societe Generale de Surveillance.

However, they expect the demand for the CPO this month to continue to remain since it rose in March.
The spot month April 2012 and nearby month May 2012 fell RM23 each to end at RM3,616 and RM3,590 a tonne, respectively.

The benchmark month June 2012 lost RM29 to RM3,575 a tonne, while July 2012 declined RM21 to RM3,556 a tonne. Volume fell to 24,528 lots from the 18,810 lots last Friday, while open interest slipped to 119,692 contracts from 120,728 contracts previously

Source: Business Times

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