Feb 21st 2009

Crude palm oil futures prices on Bursa Malaysia Derivatives closed lower yesterday, dealers said.

They said the market, which was higher in the early session on improved export data, retreated at the close on profit-taking.

Cargo surveyor, Intertek Testing Services, reported that for Feb 1-20 period, exports of local palm oil rose by 7.6 per cent to 792,286 tonnes from738,255 tonnes in the corresponding period last month.
Societe Generale de Surveillance said exports for the period rose by 1.7 per cent to 785,292 tonnes from 771,860 tonnes previously.

At the close, March 2009 declined RM14 to RM1,875 per tonne, April 2009 dipped RM35 to RM1,840, May 2009 dropped RM25 to RM1,835 and June 2009 decreased RM35 to RM1,824.

Total volume fell to 12,274 lots from 22,439 lots on Thursday and open interests increased to 84,393 contracts from 83,004 contracts previously.

On the physical market, February South was lower by RM20 to RM1,900 a tonne.

Source: Business Times