CPO Extending Losses

KUALA LUMPUR: Crude palm oil futures contracts on Bursa Malaysia Derivatives ended sharply lower yesterday, extending losses posted on Monday, dealers said.

A dealer, however, said the CPO market was oversold, and this could attract buyers in the coming days.

August 2012 fell RM64 to RM2,898 a tonne. September 2012 and October 2012 also slipped RM64 each to RM2,912 and RM2,926. November 2012 fell RM68 to RM2,935 a tonne.

Turnover went up to 38,763 lots from 27,369 lots on Monday while open interest was higher at 111,579 contracts from 111,018 contracts previously.

On the physical market, August South lost RM50 to RM2,930 a tonne. Bernama


Source : Business Times

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