CPO Futures Lower As China Move Hits Prices

Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower yesterday as news of China lifting a ban to allow the import of soyabean oil from Argentina caused pressure on CPO futures prices, dealers said.

October 2010 lost RM24 to RM2,870 per tonne, November 2010 dropped RM28 to RM2,901, December 2010 declined RM25 to RM2,900, January 2011 fell RM26 to RM2,903, and February 2011 went down RM26 to RM2,895.

On the physical market, October South declined to RM2,910 per tonne from RM2,950 on Monday.

Source: Business Times


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