Malaysia August crude palm oil at M$3,117/tonne on Monday

02 August 2011 04:34  [Source: ICIS news]

SINGAPORE(ICIS)--Malaysia crude palm oil (CPO) August contracts were settled at ringgit (M$) 3,117/tonne ($1,060/tonne) at 17:00 hours local time on Monday on the Bursa Malaysia bourse, market sources said on Tuesday.

August CPO contracts on Monday fell by M$23/tonne from M$3,140/tonne at 17:00 hours local time on Friday.

“CPO prices seem to be on a down trend,” a Singapore-based palm oil trader said.

“I believe CPO prices will remain softer this week as production this quarter remains high,” a Malaysian palm oil producer added.

($1 = M$2.94)

By: Serena Seng

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