Palm Futures Lower on Supply Glut

KUALA LUMPUR: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower yesterday due to market expectation that CPO inventories would likely rise to its highest level in November, a dealer said. 

Meanwhile, spot month December 2013 lost RM4 to RM2,602 a tonne, January 2014 decreased RM14 to RM2,628, February 2014 shed RM15 to RM2,641, and March 2014 fell RM13 to RM2,645. 

Volume decreased to 27,711 lots from 30,134 lots on Wednesday, while open interest dwindled to 176,922 contracts from 180,539 contracts recorded previously.

On the physical market, December South remained flat at RM2,640 a tonne.

Source : Business Times 

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