CPO Futures Hits Near 2-month Low

KUALA LUMPUR: Crude palm oil (CPO) futures contracts closed lower for the third consecutive day this week, hitting a near two-month low, pressured by weakening soyoil prices, which has raised concerns over the demand for palm oil, a dealer said.

January 2014, February 2014, April 2014 and June 2014 lost RM13 each to RM2,530, RM2,529, RM2,556 and RM2,555 a tonne, respectively, March 2014 slipped RM14 to RM2,561 while May 2014 dropped RM10 to RM2,562. 

Turnover appreciated to 47,368 lots from Tuesday’s 28,972 lots while open interest advanced to 202,183 from 185,185 contracts, recorded previously. 

On the physical market, January South declined by RM20 at RM2,540.

Source :  Business Times

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