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CPO futures closes lower in thin trade

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CPO futures closes lower in thin trade Empty CPO futures closes lower in thin trade

Post by Cals Mon 30 Dec 2013, 21:29

CPO futures closes lower in thin trade
Business & Markets 2013
Written by Bernama   
Monday, 30 December 2013 19:54

KUALA LUMPUR (Dec 30): Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed lower today in thin trading, due to slow demand.

Phillip Futures Sdn Bhd Derivative Product Specialist, David Ng, said the market saw profit-booking at a higher level, amid the slow buying interest from India — the world’s largest palm oil importer, and this had limited the upside in prices.

"However, the prices remain supported by a weaker ringgit against US dollar, expectation of a fall in December output and potential demand from China in the coming days," he told Bernama.

January 2014 fell RM8 to close at RM2,603, February 2014 eased RM1 to RM2,624, and March 2014 declined RM1 to RM2,631.

April 2014 was unchanged at RM2,634 a tonne. 

Turnover dipped to 9,980 lots from Friday's 19,149 lots, while open interest decreased to 164,766 contracts from 173,376 contracts previously.

On the physical market, January South was unchanged at RM2,610 per tonne.
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