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Tuesday, January 19, 2010

Crude Palm Oil Futures Staying Afloat, Benchmark Down 2 Ticks

Export & Stock Level Numbers To Dictate CPO Prices
BMD CPO futures down marginally in thin trade; market awaits cues for direction, say traders. Benchmark April CPO contract down MYR2 at MYR2,488/ton. Market likely to speculate in afternoon on Malaysia's Jan. 1-20 export data due tomorrow; estimates expected within market estimations.

End-December palm oil stocks stood at 2.24 million tons, data from the Malaysian Palm Oil Board showed, close to a record high of 2.26 million tons set in November 2008.

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