CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives declined slightly yesterday, tracking losses in the crude oil market, a dealer said.
Crude oil fell to below US$78 (US$1.00 = RM3.41) a barrel on concerns over weak demand.
“The CPO market has been looking at external factors such as the soyoil and oil prices,” he said, adding that most players were not in the market due to lack of development in the local front.
Spot month December 2009 decreased RM10 to RM2,445 a tonne, while January 2010 and February 2010 each dipped RM6 to RM2,476 and RM2,489 respectively.
March 2010 went down RM2 to RM2,494.
Volume fell to 13,568 lots from Tuesday 14,347 lots while open interest dropped to 90,291 contracts from 91,125 contracts.
On the physical market, December South went down RM10 to RM2,430 per tonne.
Source : Business Times