CPO Futures end Lower on Profit-taking Activities

KUALA LUMPUR: CPO futures on Bursa Malaysia Derivatives ended the week lower prompted by continued profit-taking activities.

“The volatility in the global market depressed demand. But, the current weak price is still profitable for planters,” said Jim Teh, Interband Group of Companies senior palm oil trader.

Spot month October 2012 lost RM60 to RM2,420 a tonne, November 2012 fell RM84 to RM2,461 while January 2013 shed RM73 to RM2,609. December 2012 fell RM61 to RM2,546 a tonne.
Turnover rose to 36,951 lots from 36,301 lots while open interest jumped to 169,317, from 164,450 contracts, previously.

On the physical market, October South declined RM50 to RM2,430 a tonne.

Source :  Business Times

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