CPO Futures Ddown on Poor Demand

THE crude palm oil futures contract on Bursa Malaysia Derivatives closed lower yesterday as stocks continue to accumulate on weak demand, dealers said.

A dealer said investors were reluctant to hold positions ahead of the long Chinese New Year holidays.

February 2012 fell RM25 to RM3,165 per tonne, March 2012 decreased RM21 to RM3,164 per tonne, April 2012 lost RM23 to RM3,157 per tonne and May 2012 slipped RM24 to RM3,149 per tonne.

Volume improved to 26,914 lots from 25,838, while open interest fell to 114,285 contracts from 118,267 contracts.

On the physical market, February South lost RM25 to RM3,165 a tonne.

Source: Business Times

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