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CPO futures end lower on stronger ringgit

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CPO futures end lower on stronger ringgit Empty CPO futures end lower on stronger ringgit

Post by Cals Fri 30 May 2014, 20:04

CPO futures end lower on stronger ringgit
Business & Markets 2014
Written by Bernama   
Friday, 30 May 2014 19:33+

KUALA LUMPUR (May 30): The crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended lower today, prompted by the stronger ringgit against the US dollar, dealers said.

A dealer said that although inventories were likely to rise in May, good export demand is expected to restrict the fall. 

Meanwhile, Phillip Futures Sdn Bhd Derivatives Product Specialist, David Ng, said that overnight fall in Chicago Board of Trade soyoil prices was also seen weighing on the sentiment.

At close, June 2014 slipped RM34 to RM2,426 a tonne, July 2014 declined RM38 to RM2,426 a tonne, August 2014 lost RM38 to RM2,423 a tonne, while September 2014 fell RM37 to RM2,422 a tonne.

Turnover rose to 35,465 lots, from 32,914 lots on Thursday, while open interest was higher at 215,052 contracts, from 212,244 contracts. 

On the physical market, June South slipped RM50 to RM2,460 a tonne.
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