KUALA LUMPUR: Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower as Malaysia’s palm oil production is estimate to be higher than market expectations, a dealer said.
Spot month December 2013 lost RM9 to RM2,613 a tonne, January 2014 decreased RM9 to RM2,621, February 2014 shed RM8 to RM2,622 and March 2014 fell RM9 to RM2,621.
Volume increased to 36,571 lots from 32,920 lots on Tuesday, while open interest declined to 187,147 contracts from 187,276 contracts previously.
On the physical market, December South remained unchanged at RM2,630 a tonne. Bernama
Source : Business Times