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NewsCPO futures closes marginally lower
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CPO futures closes marginally lower
by Cals Fri 11 Apr 2014, 01:34
| CPO futures closes marginally lower |
| Business & Markets 2014 |
| Written by Bernama |
| Thursday, 10 April 2014 20:01 |
KUALA LUMPUR (April 10): Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed marginally lower, following the release of a
bearish set of data by the Malaysian Palm Oil Board (MPOB).
Sellers emerged, as Malaysia’s palm oil inventory rose six per cent to 1.69 million tonnes at end-March, which was higher than the consensus estimate of 1.60 million tonnes.
One dealer said that prices would be well-supported, as seasonal demand may kick in a few months before the festive season.
April 2014 ended RM5 higher at RM2,655 a tonne, but both May 2014 and June 2014 finished RM4 lower, at RM2,627 and RM2,609 per tonne respectively, while July 2014 eased RM1 to RM2,600 per tonne.
Turnover dipped to 28,904 lots, from 33,914 lots recorded yesterday, while open interest dwindled to 216,787 contracts, from 222,285 contracts on Wednesday.
Meanwhile, on the physical market, April South was unchanged at RM2,690 a tonne.
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