CPO Futures Lower as Supply Fears Ease

CRUDE palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended lower yesterday as higher production eased market concern over

supply, dealers said.

They said traders trimmed their positions as the country’s stockpile increased from the previous month due to better weather.

April 2011 fell RM113 to RM3,360 a tonne, May 2011 and June 2011 fell

RM112 each to RM3,335 and RM3,308 respectively, while July 2011 declined

RM110 to RM3,293 a tonne.

Turnover rose to 25,617 lots from 20,732 lots on Monday, while open

interest slipped to 90,920 contracts from 91,506 contracts previously.

– Bernama

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