CPO Futures Decline Continues

KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives continued the downtrend to close sharply lower yesterday. 

Dealers said the decline was the lowest in two months. 

The sluggish performance was attributed to weakening demand for CPO, especially from European buyers.

Spot month July 2013 remained unchanged at RM2,330 per tonne, August 2013 decreased RM24 to RM2,285, September 2013 lost RM28 to RM2,273 and October 2013 fell RM30 to RM2,263.

Turnover slipped to 47,577 lots from 48,578 lots on Friday, while open interest declined to 223,604 contracts from 226,995 contracts. 

On the physical market, July South trimmed RM40 to RM2,310 a tonne.

Source : Business Times 

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