Wednesday, March 10, 2010

DJ CPO Price May Fall Below MYR2,500 If Brent Drops To $70/Bbl -Fry

KUALA LUMPUR(Dow Jones)--Crude palm oil prices could fall below
MYR2,500 if the price of benchmark ICE Brent crude oil contract
drops to $70 a barrel, analyst James Fry said Wednesday.

Palm oil may trade between MYR2,600 and MYR2,700 from March to
September, if rent trades between $76 and $79 a barrel, he said
at an industry conference.

At 0725 GMT, May CPO was trading at MYR2,664 a ton, up MYR14
on the Bursa Malaysia Derivatives, while ICE Brent for April
delivery was down 33 cents at $79.58 a barrel.

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