CPO Futures Down on Profit-taking Activities

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower yesterday on profit-taking after recent advances, dealers said. 

They said investors were concerned over the current high CPO stocks which may not ease due to prevailing weaknesses in the global economy. 

There were concerns that CPO stocks may reach a high of 2.5 million tonnes in September.

Spot month November 2012 and December 2012 lost RM32 each to RM2,437 and RM2,496 a tonne.

January 2013 lost RM37 to RM2,540 a tonne and February 2013 slipped RM26 to RM2,571 a tonne.

Source :  Business Times

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