CPO Futures Falls on Surplus Fears

KUALA LUMPUR: Crude palm oil futures prices closed lower yesterday due to mounting concerns over rising supplies in the coming months.

“However, a weaker ringgit to the dollar and a rebound in the Chicago Board of Trade (CBOT) soya futures helped limit losses,” said Phillip Futures derivative product specialist, David Ng.

Meanwhile, October 2013 and November 2013 lost RM5 each to RM2,311 and RM2,306 a tonne, respectively.

December 2013 fell RM8 to RM2,301 and January 2014 dipped RM7 to RM2,305.

Volume declined to 24,678 lots from 29,253 lots on Monday, while open interest slipped to 174,771 contracts from 180,821 contracts recorded previously. 

On the physical market, October South was unchanged at RM2,330 a tonne.

Source : Business Times 

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