CPO Futures Slips on Bearish Data

KUALA LUMPUR: Crude palm oil futures on Bursa Malaysia Derivatives closed easier yesterday, influenced by the Malaysian July export data and on lingering worries over the US Midwest drought.

Cargo surveyor Societe Generale de Surveillance said Malaysian palm oil products export for July fell 18.5 per cent to 1,193,227 tonnes from 1,463,864 tonnes shipped in June.

August 2012 was down RM50 to RM2,955, September 2012 eased RM48 to RM2,965, October 2012 fell RM14 to RM2,980 and November 2012 slipped RM35 to RM2,985.
Volume fell to 34,609 lots from 24,699 lots on Monday and open interest rose to 139,562 contracts from 129,424.

On the physical market, August South fell RM20 to RM2,970 a tonne.

Source : Business Times

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