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CPO futures up, despite lower export figure

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CPO futures up, despite lower export figure Empty CPO futures up, despite lower export figure

Post by Cals Thu 26 Dec 2013, 21:57

CPO futures up, despite lower export figure
Business & Markets 2013
Written by Bernama   
Thursday, 26 December 2013 20:06

KUALA LUMPUR (Dec 26): Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended higher today, due to lower ringgit against US dollar, and the fall in Malaysia's output due to heavy rain, a dealer said. 

Phillip Futures Sdn Bhd Investment Analyst, David Ng, said the release of lower export data by cargo surveyor, Intertek Testing Services, has not affected the market.

For Dec 1-25, exports fell to 1.14 million tonnes, from 1.23 million from Nov 1-25.    

January 2014 surged RM9 to RM2,612, February 2014 increased RM9 to RM2,626, March 2014 was up RM9 to RM2,634, and April 2014 rose RM11 to RM2,640 a tonne.

Turnover increased to 15,376 lots, from 12,883 lots on Tuesday, while open interest rose to 169,189 contracts, from 168,004 contracts on Tuesday.

On the physical market, January South was RM10 higher, at RM2,610 per tonne
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