CPO Prices Close Mixed

CPO Prices Close Mixed

KUALA LUMPUR: Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives ended mixed yesterday in anticipation of higher inventory for November.

Phillip Futures Sdn Bhd derivatives product specialist David Ng said the lower demand from key importing countries kept sentiment at bay.

“Weather risk remains moderated for now. However, a weaker ringgit might bolster trade in the coming days. We locate support level at RM2,150 and immediate resistance at RM2,250,” he said.

December 2014 rose RM13 to RM2,148 a tonne, January 2015 increased RM1 to RM2,171 a tonne, February 2015 slipped RM1 to RM2,171 a tonne, and March 2015 remained unchanged at RM2,175 a tonne.

Volume was down to 33,853 lots from 39,667 lots last Friday, while open interest declined to 231,435 contracts from 234,601 contracts previously.

On the physical market, December South was RM10 higher at RM2,190 a tonne. Bernama

Source : New Straits Times

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