CPO Futures Dip on Profit-Taking Activities

KUALA LUMPUR: Crude palm oil futures closed lower yesterday on profit-taking, a dealer said. She said traders were away for the Bursa Malaysia Palm Oil Conference which started yesterday.

“The lower prices was due to profit taking. Traders got out of their position before coming here for the conference,” she said

March 2012 declined by RM15 to RM3,220 a tonne, April 2012 dropped RM10 to RM3,240 a tonne, May 2012 went down RM13 to RM3,246 a tonne and June 2012 lost RM17 to RM3,239 a tonne.

Volume fell to 16,601 lots from 20,256 lots recorded last Friday while open interest slipped to 123,249 conracts from 123,480 contracts recorded last Friday.

On the physical market, March South was unchanged at RM3,230 a tonne.

Source: Business Times

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