Palm futures dip on profit-taking

CRUDE palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower yesterday as investors took profits ahead of the weekend to reduce risk.

A dealer said most investors are reluctant to hold big positions amid concerns over the debt crisis in the US while deepening debt problems in the euro zone further weighed on investor sentiment.

August 2011 dipped RM9 to RM3,110 per tonne, September 2011 fell RM25 to RM3,097, October 2011 slipped RM20 to RM3,096 and November 2011 dropped RM24 to RM3,093.

On the physical market, August South was RM10 lower at RM3,140 per tonne.

Source:  Business Times

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