CPO Futures Dip on Technical Correction

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower prompted by a technical correction and subdued demand, dealers said.

March fell RM23 to RM3,225 per tonne, April lost RM32 to RM3,245 per tonne, May slipped RM25 to RM3,270 and June eased RM33 to RM3,265 per tonne.

Volume rose to 25,614 lots from Tuesday’s 20,248 lots and open interest increased to 126,511 contracts, from 140,332 contracts, recorded previously.

On the physical market, March South fell RM20 to RM3,240 a tonne.

Source: Business Times

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