CRUDE palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed slightly lower in active trading yesterday despite a sharp rise
in the morning, a dealer said.
The market reacted to higher
soyaoil futures prices on the Chicago Board of Trade, which prompted
palm oil prices to follow suit.
However, profit taking emerged
in the afternoon ahead of the release of production and export data next
week by the Malaysian Palm Oil Board.
On the local front, April, May, and June declined RM16 each to RM3,409,
RM3,379 and RM3,366 per tonne, respectively, while July dropped RM12 to
RM3,362 per tonne.
Turnover increased to 17,041 lots from 14,607
lots on Monday, while open interest decreased to 92,234 contracts from
92,801.
On the physical market, April South was RM10 lower at RM3,430 per tonne.
