Palm Futures Falls on Rising Output

KUALA LUMPUR: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower yesterday, owing to rising output in Southeast Asia, weighing on prices.

However, gains in regional equity markets and crude oil prices were seen capping the fall, said Phillip Futures Sdn Bhd derivative product specialist David Ng. 

Spot month October 2013 and November 2013 lost RM7 each to RM2,322 and RM2,318 per tonne, respectively, December 2013 eased RM6 to RM2,317 per tonne and January 2014 fell RM9 to RM2,318 a tonne. 

Volume rose to 47,814 lots from 35,314 lots while open interest expanded to 202,822 contracts versus 198,558 contracts.


On the physical market, October South remained unchanged at RM2,350 a tonne.


Source : Business Times 

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