CPO Futures Continue Downtrend

KUALA LUMPUR: Crude palm oil futures prices on Bursa Malaysia Derivatives continued its downtrend for the second consecutive day yesterday, said Interband group of companies senior palm oil trader, Jim Teh.

At the close, spot month July 2012 dropped RM58 to RM2,926 per tonne, August 2012 declined RM52 each to RM2,944, September 2012 fell RM47 to RM2,953 and October 2012 decreased RM49 to RM2,958.

Volume fell to 26,845 lots from 36,568 lots on Thursday, while open interest slipped to 94,528 contracts from 94,902 contracts before.
On the physical market, June South went down RM40 to RM2,970 per tonne from RM3,010 on Thursday.

Source : Business Times

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