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CPO futures closes lower

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CPO futures closes lower Empty CPO futures closes lower

Post by Cals Tue 26 Nov 2013, 05:15

CPO futures closes lower
Business & Markets 2013
Written by Bernama   
Monday, 25 November 2013 19:50
KUALA LUMPUR (Nov 25): Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower, on expectation that output will increase this month, against the backdrop of slower exports, said a dealer.

"As per data from cargo surveyor, Intertek Testing Services, Malaysia exported 1.23 million tonnes of palm oil during Nov 1 to 25, largely unchanged from the same period a month ago," Phillip Futures Sdn Bhd Derivative dealer David Ng told Bernama.

He said another cargo surveyor, Societe Generale de Surveillance, also reported a 2.3 per cent drop in exports for the same period. 

Meanwhile, spot month December 2013 lost RM18 to RM2,622 a tonne, while January 2014, February 2014 and March 2014 all lost RM12 to RM2,630 a tonne, RM2,630 and RM2,630 a tonne, respectively.

Volume decreased to 32,920 lots from 42,487 lots recorded on Friday, while open interest declined to 187,276 contracts, from 191,226 contracts registered previously.

On the physical market, December South lost RM20 to RM2,630 a tonne.
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