CPO Prices Depressed on Continuous Selling

KUALA LUMPUR: Crude palm oil (CPO) futures prices remained lower on continuous selling yesterday, a dealer said.

Phillip Futures derivatives specialist, David Ng, said the CPO price plunged to its lowest in five years over mounting concerns over weak exports and high production for the month coupled with weak sentiment in the soy bean market.

Spot month September 2014 and December 2014 declined RM34 each to RM2,055 a tonne and RM2,023 a tonne, respectively, October 2014 slipped RM33 to RM1,993 a tonne, while November 2014 dipped RM40 to RM1,999 a tonne.

Volume rose to 48,181 lots from 36,389 lots on Thursday while open interest advanced to 294,549 contracts from 279,992 on Thursday.

On the physical market, August South dipped RM30 to RM2,030 a tonne from RM2,060 previously. Bernama

Source : New Straits Times

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