Palm Futures Lower on Weak Demand

KUALA LUMPUR: Crude palm oil (CPO) futures prices retreated from Tuesday’s gains to close lower yesterday, on the back of weak demand for the commodity, a dealer said.

“There was some buying interest at the lower levels amid likely lower supply in producing countries in the January-March quarter,” a dealer said

April 2014 fell RM27 to RM2,770, May 2014 shed RM30 to RM2,709, June 2014 eased RM20 to RM2,691 and July 2014 lost RM16 to RM2,670.

Turnover decreased to 58,950 lots from Tuesday’s 71,193 lots, while open interest rose to 395,602 contracts from 255,498 previously.

On the physical market, April South fell RM10 to RM2,840 a tonne. Bernama

Source : New Straits Times 

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