CPO Futures Lower on Weak Buying

KUALA LUMPUR: Crude palm oil futures closed lower yesterday on lack of buying support, dealers said. 

A dealer said amid concerns over the weaker palm oil export data released by Societe Generale de Surveillance and Intertek Agri Services, the traders continued to stay on the sidelines. 

He said there was also fear of countries increasing their CPO stock levels. 

December 2012 lost RM87 to RM2,178 a tonne, January 2013 lost RM30 to RM2,355, February 2013 and March 2013 fell RM22 each to RM2,410 and RM2,450 respectively.

Turnover rose to 35,938 lots from 30,722 lots while open interest rose to 171,916 from 164,833 contracts previously.

On the physical market, December South dropped RM50 to RM2,200 a tonne from RM2,250 on Monday. 

Source :  Business Times
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