CPO Futures Down on Pessimism

KUALA LUMPUR: Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed lower yesterday on weak demand amid bearish external sentiment, a dealer said.

Phillip Futures Sdn Bhd Derivative Product Specialist David Ng said CPO futures ended in the red again as sentiment stayed pessimistic amid narrowing spread between soyabean oil and palm oil.

Spot month August 2014 eased RM8 to RM2,365 a tonne, September 2014 depreciated RM13 to RM2,312, October 2014 declined RM17 to RM2,279 and November 2014 decreased RM18 to RM2,277.

Volume rose to 35,753 lots from 22,467, while open interest rose to 248,976 contracts from 236,005 previously.

On the physical market, August South fell RM10 to RM2,380 from RM2,390.Bernama


Source : New Straits Times

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