CPO Futures Slips on Profit-taking

KUALA LUMPUR: The crude palm oil futures contract on Bursa Malaysia Derivatives closed lower after its recent gains, prompted by profit-taking activities.

Phillip Futures Sdn Bhd derivative product specialist David Ng said the decline in crude oil prices and some pullback in the Chicago Board of Trade soyaoil futures pressured CPO prices.

May 2014 finished RM27 lower at RM2,690 a tonne, June 2014 and July declined RM36 each to RM2,652 and RM2,636, respectively, while August 2014 depreciated RM34 to RM2,629.

Turnover rose to 30,550 lots from 27,001 on Monday while open interest improved to 216,696 contracts versus 210,285 yesterday. Bernama

Source : New Straits Times

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