CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives
closed lower yesterday on profit-taking and a stronger ringgit, dealers
said.
They said the stronger ringgit, which was quoted yesterday
at 3.26 to the US dollar from 3.29 on Wednesday, encouraged investors to
unwind positions.
Expectation of low stocks limited the losses,
said one of the dealers who added that the Malaysian Palm Oil Board is
scheduled to announce the May production, exports and ending stocks data
next week.
At the closing yesterday, June 2010 rose RM3 to settle at RM2,538 per
tonne while July 2010 went down RM13 to RM2,492 per tonne, August 2010
dropped RM12 to RM2,456 per tonne and September 2010 fell RM16 to
RM2,429 per tonne. – Bernama
Source : Business Times
