KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed lower yesterday on profit-taking.
Phillip Futures Sdn Bhd Derivative Product Specialist David Ng said the weak rupiah had also kept Indonesian palm oil prices competitive and there could be a shift in demand from Malaysia to Indonesia.
September 2013 declined RM45 to RM2,444 a tonne and October 2013 dropped RM46 to RM2,444. November 2013 fell RM41 to RM2,440 and December 2013 decreased RM38 to RM2,440 a tonne.
Volume fell to 45,260 lots from 48,825 lots while open interest dwindled to 205,803 contracts from 214,335.
On the physical market, September South decreased RM70 to RM2,480 a tonne. Bernama
Source : Business Times
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