Exchange is expected to remain listless as the market
remained clouded with external negative factors, said a dealer.
“As long as the euro-zone crisis remains the headline of the day,
commodities market are expected to remain in the doldrums,” he said,
adding that the CPO futures may hover between RM2,540 and RM2,650 per
tonne next week.
On a positive note, the dealer said lower-than-expected end-April
stocks and production could help the market cushion some downfall.
The Malaysian Palm Oil Board (MPOB) is anticipated to release
April’s import, export, production and stock figures, while Cargo
surveyors ITS and SGS are due to release export estimates for the first
10-days of May.
On a Friday-to-Friday basis, May 2010 slipped RM19 to RM2,558, June
2010 shed RM7 to RM2,534, July 2010 dipped RM39 to RM2,519 and August
2010 fell RM35 to RM2,514.
Weekly turnover rose to 70,198 lots from 62,342 lots last week.
Open interest, at the end of the week, totalled 65,625 contracts
compared with last Friday’s 63,191 contracts.
On the physical market, April South shed RM10 to RM2,570 per
tonne. — Bernama
Source : Business Times
