THE crude palm oil futures contract market ended lower on Bursa
Malaysia Derivatives yesterday despite encouraging export data released
by the Malaysian Palm Oil Board.
Dealers said continuing concerns
over the eurozone debt crisis weighed heavily on market sentiment as
Malaysia’s palm oil trade depended on crude oil and the global market
scenario.
Malaysia palm oil board reported that palm oil exports
increased 5.96 per cent to 1.362 million tonnes in May while palm kernel
oil exports rose 28.11 per cent to 112,472 tonnes.
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June declined RM12 to RM2,524 a tonne, July fell RM24 to RM2,454 a
tonne, August eased RM14 to RM2,418 a tonne and September 2010 dipped
RM12 to RM2,395 a tonne.
Source : Business Times
