CPO Futures Dip as Buyers Stay Cautious

KUALA LUMPUR: Crude palm oil futures closed lower yesterday as buyers cautiously awaited China’s export data.

Phillip Futures Sdn Bhd Derivative Product Specialist David Ng said the prices are expected to be within market range and a tough fight between buyers and sellers is also possible. 

August 2013 slipped RM7 to RM2,253 a tonne, September 2013 dipped RM7 to RM2,211, October 2013 fell RM16 to RM2,167 and November 2013 decreased RM18 to RM2,159.

Turnover decreased to 44,346 lots from 46,541 while open interest eased to 238,102 contracts from 240,671. 

On the physical market, August South eased RM10 to RM2,270 a tonne. 

Source : Business Times 

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