Palm Futures Downtrend Continues

KUALA LUMPUR: Crude palm oil (CPO) futures contract continued its downtrend to close lower yesterday on weaker export sentiment.

Phillip Futures Sdn Bhd investment analyst David Ng said the CPO prices continued to be weak but a rebound in the price of soyabean oil gave some support to prices.

January 2014 was RM27 lower at RM2,460 a tonne, February 2014 eased RM27 to RM2,472, March 2014 fell RM24 to RM2,493 and April 2014 eased RM22 to RM2,506.

Turnover decreased to 31,004 lots from Friday’s 31,791 lots while open interest increased to 192,218 contracts from 190,932 contracts previously.

On the physical market, December South slipped RM10 to RM2,510 per tonne.

Source : Business Times

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