Commodities Roundup: CPO futures retreat
Business Times
Friday - March 28, 2008
CPO FUTURES
Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed lower yesterday on profit-taking after two days of strong gains, dealers said.
They said the prices had rallied recently due to the release of positive export data of the local palm oil products by cargo surveyors and the bullish soyaoil prices amid supply concern. At the close yesterday, April 2008 fell RM66 to RM3,584 per tonne, May 2008 declined RM66 to RM3,635, June 2008 slipped RM60 to RM3,640 and July 2008 eased RM69 to RM3,630.
Volume fell to 9,266 lots from 21,920 lots on Wednesday while open interests increased to 42,401 contracts from 40,655 contracts previously.
On the physical market, April South edged up to RM3,670 per tonne from RM3,650 per tonne on Wednesday.
