Palm Futures Down on Profit-taking

KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed lower yesterday on profit-taking, ahead of the release of April data, a dealer said.

“The market was cautious ahead of production data to be released by the Malaysian Palm Oil Board for March on Thursday.

“It will coincide with the Cargo Surveyors’ exports release for the first 10 days of April,” he said.

At close, April 2014 lost RM37 to RM2,668 a tonne, May 2014 shed RM36 to RM2,642 a tonne.

Meanwhile, June 2014 slipped RM56 to RM2,622 a tonne and July 2014 depreciated by RM35 to close at RM2,611 a tonne.

Turnover dropped to 32,779 lots from the 35,659 lots recorded last Friday and open interest dipped to 218,168 contracts from 220,667 contracts previously.

On the physical market, April South eased RM20 to RM2,690 a tonne. Bernama

Source: New Straits Times 

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