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CPO futures close lower amid cautious mood

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CPO futures close lower amid cautious mood Empty CPO futures close lower amid cautious mood

Post by Cals Sat 20 Apr 2013, 08:16

CPO futures close lower amid cautious mood
Business & Markets 2013
Written by Bernama
Friday, 19 April 2013 20:09


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By Farhana Poniman

KUALA LUMPUR, April 19 (Bernama) -- Crude palm oil futures (CPO) contracts
on Bursa Malaysia Derivatives closed lower today, recording its fourth straight
weekly loss, on profit-taking activities, a trader said.
Interband group senior palm oil trader, Jim Teh, said investors remained
cautious in a volatile week that began with a broad sell-off across commodities,
coupled with weak economic data from the United States and China, signalling a
slowdown in global growth.
"The weak market sentiment was also affected by Malaysia's lower exports of
the edible oil for the first 15 days of this month," he told Bernama.
However, the Malaysian Palm Oil Board on April 10 released the end-March
stock level, which showed a 10.9 per cent drop to 2.17 million tonnes from 2.44
million tonnes in February.
May 2013 slipped RM10 to RM2,283 per tonne, June 2013 dipped RM10 to
RM2,294, July 2013 eased RM11 to RM2,296 and August 2013 fell RM10 to RM2,299.
Turnover decreased to 22,680 lots from 38,072 lots Thursday, while open
interest fell to 175,289 contracts from 190,799 contracts yesterday.
On the physical market, April South decreased RM20 to RM2,300 per tonne
today from RM2,320 previously.
-- BERNAMA
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