CPO Futures Lower as Traders Stay Cautious

KUALA LUMPUR: Crude palm oil futures contracts on Bursa Malaysia Derivatives closed lower yesterday as traders remained cautious after the government raised the CPO export tax to 4.5 per cent for March, a dealer said.

Spot month February 2013 declined RM8 to RM2,428 a tonne, March went down RM23 to RM2,452, April slipped RM12 to RM2,483 and May shed RM6 to RM2,506.

Turnover rose to 28,734 lots from Thursday’s 20,263 lots while open interest rose to 198,224 from 191,270 contracts recorded previously.

On the physical market, February South lost RM10 to RM2,440 a tonne.

Source : Business Times

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