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CPO futures close lower

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CPO futures close lower Empty CPO futures close lower

Post by Cals Thu 07 Nov 2013, 00:58

CPO futures close lower
Business & Markets 2013
Written by Bernama   
Wednesday, 06 November 2013 19:51
KUALA LUMPUR (Nov 6): Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed lower today on slow demand, amid lack of fresh market leads, a dealer said.

Phillip Futures Sdn Bhd Derivative Product Specialist, David Ng, said the weaknesses in CPO futures were due to profit-booking.
"The overall sentiment, however, remains firm as output is likely to have declined in October and demand is expected to be good, especially from China," he told Bernama.

November 2013 declined RM40 to RM2,560 a tonne, and December 2013 lost RM37 to RM2,550 a tonne.
January 2014 and February 2014 fell RM33 each, to RM2,547 a tonne each.

Volume rose to 36,225 lots from 36,025 lots on Monday, while open interest increased to 185,871 contracts from 184,896 contracts previously.

On the physical market, November South lost RM45 to RM2,545 per tonne. 
The market was closed yesterday, for the Awal Muharram holiday.
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