CPO Futures Weak on Sell-down Activities

KUALA LUMPUR: Crude palm oil futures on Bursa Malaysia Derivatives ended lower yesterday as investors unloaded their holdings following the volatility on commodity markets, dealers said. 

They said most investors shook off their positions in the market as sentiment was generally weak due to high stocks and renewed fears over the slowing global economy. 

December 2012 fell RM14 to RM2,607 a tonne. Spot month October 2012 and November 2012 stayed flat at RM2,480 and RM2,545 a tonne, respectively, while January 2013 slipped RM3 to RM2,682.

Trading volume increased to 36,301 lots from 34,447 lots while open interest rose to 164,450 from 160,860 contracts previously.

On the physical market, October South lost RM20 to RM2,480 a tonne.

Source :  Business Times

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