Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed lower yesterday on selling pressure following bearish export data, dealers said.

Societe Generale de Surveillance said Malaysia’s palm oil exports for March 1-10 fell 16.6 per cent to 355,485 tonnes from 426,163 tonnes shipped during the same period last month.

The March 2011 CPO futures contract fell RM123 to RM3,515 per tonne while April 2011, May 2011 and June 2011 declined by RM126 each to RM3,492, RM3,459 and RM3,432, respectively.

Source: Business Times