KUALA LUMPUR: Crude palm oil futures contracts on Bursa Malaysia Derivatives closed lower again yesterday on selling pressures, dealers said.
A dealer said rising stocks and growing global supply of vegetable oils, especially soyabean oil, weighed on CPO prices. “Unfavourable export data also contributed to the downtrend,” he said.
Spot month October 2012 fell RM217 to RM2,083 per tonne, November 2012 eased RM217 to RM2,175 and January 2013 lost RM168 to RM2,360. Benchmark December 2012 dipped RM239 to RM2,255.
On the physical market, October South dropped RM160 to RM2,200 per tonne
Source : Business Times
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