CPO Futures Fall Further

CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives fell further on continued profit-taking yesterday.

“The market saw a lot of last minute sell-offs,” said a dealer. Another dealer said traders were still cautious over the uncertainty in the global economy.

September 2011 lost RM44 to RM3,100 while October 2011 dropped RM71 to RM3,038, November 2011 fell RM65 to RM2,985 and December was RM68 lower at RM2,975.

Turnover increased to 23,014 lots from 1,952 lots while open interest rose to 131,127 contracts from 130,800 contracts. 

On the physical market, September South declined to RM3,110 per tonne from RM3,145 per tonne.

Source: Business Times

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