CPO Futures Fall As Players Take Profifs

Crude palm oil futures prices on Bursa Malaysia Derivatives closed lower yesterday as players booked profits following Monday’s run-up, traders said.

They said the market reacted to weak export figures released by cargo surveyor, Intertek Testing Services.

Exports of palm oil products between July 1 and July 20 fell 3 per cent to 879,018 tonnes, from 906,321 tonnes shipped in the first 20 days of June.

On the futures maket, August 2010 fell RM1 to RM2,503 a tonne, Sept 2010 eased R23 to RM2,451, October slipped RM30 to RM2,424 and November declined RM29 to RM2,420.

Volume, however, rose to 17,134 lots from 13,280 lots on Monday while open interest fell to 67,704 contracts from 68,762 contracts, previously.

On the physical market, July South ended RM10 lower at RM2,510 a tonne.

Source: Business Times

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