Palm Futures Downtrend Continues

KUALA LUMPUR: Crude palm oil (CPO) futures closed lower yesterday, tracking the weaker soyabean oil markets.

Phillip Futures derivative product specialist David Ng said the downtrend was seen as limited as there was a good demand for palm oil. 

CPO exports in August rose by 7.6 per cent compared to July, supported by major buyers from Europe and China.

September 2013 slipped RM21 to RM2,399, October 2013 lost RM17 to RM2,402, November 2013 was RM19 lower at RM2,398 and December 2013 fell by RM20 to RM2,399 a tonne.


Turnover declined to 15,778 lots from 26,490 lots while open interest fell to 180,413 contracts from 191,072. 


On the physical market, September South declined RM10 to RM2,430 a tonne.


Source : Business Times 

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