CPO Futures End Lower On Weaker Export Performance In July
KUALA LUMPUR, July 28 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower today, weighed by Malaysian palm oil's weaker export performance in July.
"Meanwhile, AmSpec Agri Malaysia reported exports at 896,484 tonnes, marking a 15.22 per cent decline over the same period," he told Bernama.
Palm oil trader David Ng said the CPO market closed lower on Monday due to concerns over expectations of rising output and weaker demand in the coming weeks.
He said the market sentiment was also dragged down by a drop in soybean oil prices on the Chicago Board of Trade (CBOT).
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