CPO Futures Prices Close Higher

CPO Futures Prices Close Higher

KUALA LUMPUR: Crude palm oil (CPO) futures ended higher yesterday on the back of weaker ringgit.

However, Phillip Futures Sdn Bhd derivatives product specialist, David Ng, said that in anticipation of higher inventory and weaker exports, the upside in prices may remain limited.

“Traders remain cautious ahead of key Malaysian Palm Oil Board’s report which will be released next week.

At the close, December 2014 fell RM12 to RM2,135 a tonne, January 2015 decreased RM1 to RM2,170 a tonne, February 2015 and March 2015 gained RM6 to RM2,172 and RM2,175 a tonne respectively.

Volume decreased to 39,667 lots from 44,200 lots on Thursday while open interest declined to 234,601 from 237,941 contracts previously.

On the physical market, December South remain unchanged at RM2,180 a tonne. Bernama

Source : New Straits Times

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