CPO Futures Down on Lower Demand

KUALA LUMPUR: Crude palm oil futures contracts on Bursa Malaysia Derivatives closed lower yesterday on lack of demand against a backdrop of high stocks, dealers said.

Interband Group Senior Palm Oil Trader Jim Teh said most investors remained cautious ahead of the Palm Oil Conference to be held here next Monday to Wednesday.

March rose RM2 to RM2,390 a tonne, April lost RM5 to RM2,400 a tonne, May slipped RM7 to RM2,410 a tonne and June was RM11 lower at RM2,419.

Turnover fell to 34,090 lots from Wednesday’s 35,620 lots while open interest slipped to 196,874 contracts from 197,543 contracts on Tuesday. 

Source : Business Times

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