CPO Falls on Weak Demand

KUALA LUMPUR: Crude palm oil (CPO) futures contracts closed lower yesterday on weak demand.

Phillip Future investment analyst David Ng said the CPO was traded range bound for most of the day but ended lower in the second session.

April 2014 and May 2014 fell RM29 to RM2,793 and RM2,735 a tonne respectively, June 2014 declined RM27 to RM2,702 a tonne and July 2014 eased RM26 to RM2,671 a tonne.

Turnover rose to 63,796 lots from 39,171 lots on Friday, while open interest increased to 250,645 contracts from 224,776 contracts previously.

On the physical market, April South was unchanged at RM2,860 a tonne. Bernama

Source: Business Times

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