Palm futures finish lower

KUALA LUMPUR: Crude palm oil (CPO) futures contract ended lower yesterday due to the continuing poor performance of soya oil.

The market was also concerned over the shift in demand from palm oil to soya oil following the reduction in discount of palm oil to soya oil, Phillip Futures derivatives specialist David Ng said.

January 2014 shed RM30 to RM2,502 a tonne, February 2014 eased RM28 to RM2,533, March 2014 fell RM24 to RM2,552 and April 2014 lost RM21 to RM2,560.

Turnover rose to 38,116 lots from Tuesday’s 34,210 lots, while open interest rose to 188,739 from 185,666 contracts previously.

On the physical market, December South fell RM20 to RM2,540 a tonne.

Source: Business Times


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