Palm Futures Retreat

KUALA LUMPUR: Crude palm oil (CPO) futures prices closed lower yesterday tracking the decline in crude oil futures and also due to the stronger ringgit against the US dollar, a dealer said.

Phillip Futures specialist, David Ng, said the prices were traded lower following weakness in Chicago Board of Trade soya oil and global crude oil prices.

July 2014 slipped RM13 to RM2,440, August 2014 shed RM17 to RM2,396, September 2014 fell RM11 to RM2,373 and October 2014 decreased RM17 to RM2,358 a tonne.

Volume rose to 49,488 lots from 39,418 lots, while open interest rose to 261,210 contracts versus 247,191 previously.

On the physical market, July South fell RM5 to RM2,460 a tonne. Bernama


Source : New Straits Times

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