Crude palm oil futures on Malaysia’s derivatives exchange end down reflecting
investor concerns that Europe’s debt crisis and slow Chinese economy could curb
demand.
"The dip below MYR2,350/ton saw some investors scrambling to liquidate
positions and cut losses while some added short positions," a commodities broker
in Kuala Lumpur says adding that bearish technical signals could drag prices to
MYR2,230-MYR2,250/ton in coming sessions.
Still, some analysts reckon palm oil’s hefty $330/ton discount to soyoil and
likely lower end-March stocks could prevent the prices from falling further.
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