CPO Futures Continue Downtrend

KUALA LUMPUR: Crude palm oil futures continued its downtrend to close lower yesterday, on concerns of a slowdown in demand, a trader said.

Interband Group Senior Palm Oil Trader Jim Teh said local exports slipped as top buyers – India and China – switched to domestic oilseed supplies.

March 2013 fell RM31 to RM2,388 a tonne, April 2013 lost RM44 to RM2,405 a tonne, May 2013 tumbled RM53 to RM2,417 and June 2013 lost RM58 to RM2,430.

Turnover fell to 35,620 lots from 37,569 lots while open interest slipped to 197,543 from 201,834 contracts previously.

On the physical market, March South dipped RM20 to RM2,380 a tonne.

Source : Business Times

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