CPO Futures Down on Weak Exports

KUALA LUMPUR: The crude palm oil futures contracts closed lower yesterday on worries over weak exports.

HwangDBS Vickers Research said palm oil exports in April declined five per cent month-on-month to 1.449 million tonnes, on slower demand from China and India, due to high stocks.

Meanwhile, spot month May 2013 eased RM9 to RM2,281 a tonne, June 2013 fell RM9 to RM2,296, July 2013 dipped RM9 to RM2,310, and August 2013 was RM5 lower at RM2,311 a tonne.

Turnover declined to 20,607 lots from 32,232 lots on Friday, while open interest fell to 187,444 contracts from 196,369 contracts previously. 

On the physical market, May South remained at RM2,310 a tonne.

Source : Business Times 

Share this post:

Leave a Reply