CPO Futures Dip on Lack of Demand

KUALA LUMPUR: Crude palm oil futures closed lower yesterday on the lack of buying demand, dealers said.

A dealer said at the end of November’s trading yesterday, traders stayed sidelined on concerns over the higher stock level.

However the market was surprised by a better-than-expected data report for exports in November, which spurred late buying activities, helping mitigate earlier losses.

December 2012 fell RM25 to RM2,145 a tonne, January 2013 fell RM18 to RM2,302, February 2013 lost RM16 to RM2,370 and March 2013 was down RM12 to RM2,424.

Turnover fell to 20,776 lots from 24,134 lots, while open interest slipped to 162,347 contracts from 167,282 previously.

On the physical market, December South was flat at RM2,140 a tonne.

Source : Business Times

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