CPO Futures Down as Traders Stay on Sidelines

KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed marginally lower yesterday in thin trading as players stayed on the sidelines ahead of year-end holidays, a dealer said.

Phillip Futures Sdn Bhd derivative product specialist, David Ng, said the market saw a positive bias due to expectation of a fall in Malaysia’s output this month and likely rise in demand from China in the coming days.

January 2014 fell RM1 to RM2,611, February 2014 eased RM1 to RM2,625, March 2014 declined RM2 to RM2,632, and April 2014 dropped RM6 to RM2,634 a tonne.

Turnover rose to 19,149 lots from Thursday’s 15,376 lots, while open interest increased to 173,376 contracts from 169,189 contract previously.

Source : Business Times

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