Business Times

Thursday - May 29, 2008

CPO FUTURES

Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives ended easier yesterday on profit-taking after five days of gains, dealers said.

An easing crude oil price and lack of demand also kept the market easier. The benchmark August contract settled RM143 ringgit lower at RM3,587 per tonne.

“Today’s downtrend is very much related to crude oil. Also, there was no big demand to support the CPO prices as China and India remained quiet,” one of the dealers said.

As for the CPO contract prices, June 2008 and July 2008 went down RM140 each to RM3,572 per tonne and RM3,585 per tonne respectively, August 2008 fell RM143 to RM3,587 per tonne and September 2008 dipped RM148 to RM3,589 per tonne.

The day’s volume was higher at 12,013 lots from Tuesday’s 8,486 lots while open interest rose to 38,502 contracts from 36,328 contracts previously.

On the physical market, June South was slightly lower at RM3,700 per tonne from RM3,750 on Tuesday.

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