CPO Prices Close Lower

CPO Prices Close Lower

KUALA LUMPUR: Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives ended lower yesterday on subdued demand for the commodity amid persistent weakness in the crude oil market.

Phillip Futures Sdn Bhd derivatives product specialist David Ng said the local market was quiet due to players being on the sidelines, awaiting key CPO data for November due today.

“We locate the support level at RM2,100 a tonne and immediate resistance at RM2,200 a tonne,” he said.

December 2014 fell RM41 to RM2,107 a tonne, January 2015 and February 2015 also decreased RM41 to RM2,130 and RM2,130 a tonne respectively, and March 2015 fell RM40 to RM2,135 a tonne.

Volume increased to 43,120 lots from 33,853 lots on Monday, while open interest rose to 238,949 contracts from 231,435 contracts previously.

On the physical market, December South was RM40 lower at RM2,150 a tonne. Bernama

  

Source : New Straits Times

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