Crude Palm Oil Expected to Trade Lower this Week

KUALA LUMPUR: Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives are expected to trade lower this week due to gloomy demand for edible oil globally, dealers said.

He said with a month before the new year comes in, traders were cautious over the CPO market trading as the current high level of CPO stockpile would affect the outlook for prices in 2013.

On a Friday-to-Friday basis, benchmark contract month December 2012 slipped RM122 to RM2,145 a tonne, January 2013 dropped RM53 to RM2,302, February 2013 fell RM25 to RM2,370 and March 2013 lost RM6 to RM2,424.

Weekly turnover fell to 143,388 lots from 178,543 lots previously while open interest decreased to 162,347 contracts.

On the physical market, December South stood at RM2,140 a tonne. Bernama

Source : The Star

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