CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives
closed sharply lower yesterday as investors took profits on poor
overseas demand and unfavourable export figures for the first 10 days,
dealers said.
A dealer said the market took a breather after
posting five consecutive days of gains, with the price at 15-month high
yesterday.
Cargo surveyor, Intertek Testing Services, said
exports of Malaysian palm oil products for Aug 1-10 are set to fall by
17.4 per cent to 392,185 tonnes from 474,928 tonnes shipped during July
1-10.
CPO Futures End Sharply Lower
August 2010 delivery fell RM32 to close at RM2,790 per tonne and September 2010 contract went down RM57 to RM2,705.
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