CPO Futures Rise Hit by Bearish Report

KUALA LUMPUR: Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed easier yesterday prompted by a bearish market report which pushed investors away, dealers said.

Alliance Research said the recent fall in CPO prices was due to the weaker month-on-month export data released by cargo surveyors for the July 1-25 period.

Societe General de Surveillance reported a 18 per cent decline, while Intertek Testing Services reported a 14 per cent decline, the research house said.
August declined RM76 to RM2,855 and September shed RM71 to RM2,869 per tonne. October fell RM69 to RM2,882 per tonne, while November decreased RM70 to RM2,890 per tonne.


Source : Business Times

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