I retain a very small long position in Golden Agriculture. The price of crude palm oil (CPO) has made a new low for 2011, closing at RM3,040.
"Inventories are likely to accumulate in the coming months, unless prices fall to around MYR2,700-MYR2,800/ton, levels that might spur strong physical demand for the commodity and prompt traders to buy on dips, said a trading executive in Kuala Lumpur...
