CPO Futures Extend Losses

CPO Futures Extend Losses

KUALA LUMPUR: Crude palm oil futures (CPO) contracts on the Bursa Malaysia Derivatives market extended their losses to close lower on a weak crude oil market.

Phillip Futures Sdn Bhd derivative products specialist David Ng said brent crude oil prices remained near a four-year low at US$75 a barrel and this will put pressure on CPO prices.

“Players are looking for a fresh lead as they cautiously await export data figures from Cargo Surveyors Intertek Testing Services and Societe Generale de Surveillance next week,” he said.

Spot month November 2014 was unchanged at RM2,191 a tonne, December 2014 decreased RM33 to RM2,188 a tonne while January 2015 declined RM27 to RM2,204 a tonne and February 2014 depreciated RM24 to RM2,215 a tonne.

Volume increased to 45,953 lots from 39,596 lots previously while open interest rose to 261,299 contracts from Thursday’s 257,144 contracts.

On the physical market, November South went down RM30 to RM2,210 a tonne. Bernama

Source : New Straits Times

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