CPO Futures Dip on Tracks of Soya Oil Decline

KUALA LUMPUR: Crude palm oil futures contracts closed lower yesterday despite better exports for palm oil products.

A dealer said the fall in CPO prices was in line with the downtrend of other vegetable oils markets due to improved prospects for South American soya bean supply. 

March 2013 fell RM56 to RM2,419 a tonne, April 2013 lost RM61 to RM2,449, May 2013 lost RM63 to RM2,470 and June 2013 was RM66 lower at RM2,488 a tonne.

Turnover rose to 37,569 lots from 20,589 lots while open interest spiralled to 201,834 from 186,706 contracts last week.

On the physical market, March South declined RM60 to RM2,400 a tonne.

Source : Business Times

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