CPO Futures Extended Losses

CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives extended

its losses yesterday as the credit crisis in Greece and Portugal weighed

heavily on commodities.

Dealers said the move by investors to

seek a safe haven in the US dollar made it more expensive for those

using other currencies to buy commodities.

The lower crude oil

prices also affected CPO and other vegetable oils.

The May 2010 contract fell RM8 to RM2,566 a tonne, June 2010 declined

RM3 to RM2,559 a tonne, July 2010 dropped RM3 to RM2,547 and August

2010 shed RM4 to RM2,541.

Volume declined to 12,204 lots

from 14,482 lots yesterday while open interest slipped to 63,531

contracts from 66,735 contracts.

On the physical market, May

South fell to RM2,575 a tonne from RM2,580 previously.

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