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CPO futures closes lower on profit taking activities
by Cals Fri 22 Nov 2013, 22:52
| CPO futures closes lower on profit taking activities |
| Business & Markets 2013 |
| Written by Bernama |
| Friday, 22 November 2013 19:59 |
"The overall sentiment for the CPO futures market, however, remains positive, given the fact that the ongoing monsoon season is expected to trim output in producing countries," Phillip Futures Sdn Bhd Derivative dealer David Ng told Bernama.
He said, the demand outlook also remained firm in the medium-term, aided by the weakening ringgit against the dollar.
Meanwhile, spot month December 2013 lost RM13 to RM2,640 a tonne, January 2014 decreased RM10 to RM2,642 a tonne, February 2014 shed RM11 to RM2,642 a tonne, and March 2014 fell RM10 to RM2,642 a tonne.
Volume fell to 42,487 lots from 45,262 lots yesterday, while open interest declined to 191,226 contracts, versus yesterday's 194,158 contracts.
On the physical market, December South remained unchanged at RM2,650 a tonne.
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