CRUDE palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed lower yesterday as traders covered their profits on growing
concerns that the US debt default will affect demand and exports of CPO,
dealers said.
The lower oil price yesterday, near US$99 (US$1.00 = RM2.97) a barrel also weighed on the market, they said.
August
2011 declined RM41 to RM3,097 a tonne, September 2011 decreased RM42 to
RM3,099 a tonne, October 2011 eased RM40 to RM3,100 a tonne and
November 2011 slipped RM42 to RM3,097 a tonne.
Turnover increased to 27,685 lots from 20,235 lots last Friday while
open interest was lower at 133,671 contracts from 135,015 contracts
previously.
Source : Business Times
