CPO futures down as traders take profit

CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives continued to closed lower yesterday due to profit-taking activities.

A dealer said the weakness in crude oil and soya oil prices also kept most buyers away.

July and August 2011 contracts both decreased by RM36 to close at RM3,165 and RM3,154 per tonne respectively. September 2011 dropped by RM42 to RM3,136 while October 2011 eased RM43 to RM3,136.

Turnover declined to 23,088 lots from 26,861 lots while open interest dropped to 116,942 contracts from 113,550 contracts previously.

On the physical market, June South eased to RM3,190 per tonne from RM3,240 per tonne.

Source: Business Times

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