Palm futures finish on bearish note

CRUDE palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed bearish as stocks continued to rise on the back of discouraging exports in June.

July 2011 slipped RM15 to RM3,065 per tonne, August 2011 shed RM7 to RM3,078 per tonne, September 2011 declined RM3 to RM3,074 per tonne and October 2011 lost RM8 to RM3,070 per tonne.

Turnover decreased to 18,760 lots, from 23,170 lots, recorded last Friday. Open interest recorded a new all-time high of 134,358 contracts against 132,406 contracts, previously.

On the physical market, July South remained unchanged at RM3,090 per tonne.

Source: Business Times

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