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CPO futures close mostly lower
by Cals Tue 25 Jun 2013, 01:29
| CPO futures close mostly lower |
| Business & Markets 2013 |
| Written by Bernama |
| Monday, 24 June 2013 20:06 |
KUALA LUMPUR (June 24): Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed mostly lower today on slowdown in China's economic growth and the weakening of the rupee against the US dollar, said Philip Futures Sdn Bhd Derivative Product Specialist David Ng.
"The slowdown in China's economy and depreciation of the rupee against dollar could hurt demand from the world's top importers," he told Bernama.
Ng said the sluggish trend on Chicago Board of Trade for soyabean oil and global crude oil prices also weighed on CPO futures.
Meanwhile, cargo surveyors, Intertek Testing Services and Societal Generale de Surveillance, reported that the June 1-20 export numbers showed a monthly increase of as much as 16 per cent.
New contract month, July 2013, gained RM41 to RM2,390, August 2013 declined RM37 to RM2,409, September 2013 dropped RM36 to RM2,403 and October 2013 decreased RM33 to RM2,400.
Turnover fell to 25,843 lots from 27,515 lots last Friday, while open interest declined to 194,193 contracts from 198,383 contracts previously.
On the June CPO, prices were traded between RM2,340 and RM2,410.
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