CPO Futures Downtrend Continues

KUALA LUMPUR: Crude palm oil (CPO) futures prices on Malaysia Derivatives Exchange continued its downtrend for the third consecutive day yesterday on the back of increasing supplies.

Phillip Futures Sdn Bhd derivative product specialist David Ng said the easing demand and the fall in the soyaoil prices on the Chicago Board of Trade affected the market. A firmer ringgit was also seen weighing on prices.

June 2014 fell RM6 to RM2,380, July 2014 eased RM6 to RM2,386, August 2014 declined RM6 to RM2,379 and September 2014 fell RM8 to RM2,377 Volume fell to 27,661 lots from 39,327 lots on Tuesday. Bernama

Source : New Straits Times

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