CPO Futures Hits Two-week Low

KUALA LUMPUR: Crude palm oil futures contracts closed at a two-week low yesterday after the long Chinese New Year holiday, a dealer said.

He said data released by the Malaysian Palm Oil Board showed that CPO stocks lost 1.9 per cent to 2.58 million tonnes in January, from 2.63 million tonnes in December 2012. 

February 2013 was RM35 lower at RM2,445 a tonne, March fell RM50 to RM2,484, April lost RM55 to RM2,505 and May shed RM57 to RM2,522.

Turnover rose to 18,873 lots from 18,142 lots while open interest rose to 192,674 contracts from 192,653 contracts. 

On the physical market, February South was flat at RM2,440 a tonne.

Source : Business Times

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