CPO Futures Down Hit by Slow Exports

KUALA LUMPUR: Crude palm oil futures closed lower yesterday amid concerns of slow export demand, dealers said. 

A dealer said cargo surveyors had predicted a drop in Malaysian palm oil exports for December 1 to 15 compared to a month ago.

January 2013 was flat RM2,197 a tonne, February 2013 shed RM3 to RM2,277, March 2013 fell RM8 to RM2,342 and April eased RM10 to RM2,400.

Turnover jumped to 30,911 lots from 30,806 lots. 

Open interest fell to 183,965 contracts from 184,967 contracts previously.

On the physical market the price of January South fell to RM2,150 a tonne from RM2,160 previously.

Source : Business Times

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