CPO futures close lower

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KUALA LUMPUR (June 30): Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed lower today, amid some profit-booking activities due to some pullback in global crude oil prices, a dealer said.

He said that concerns over declining palm oil production due to the prevailing dryness in parts of producing regions, are seen capping the downside.

"The export data has been price positive, with cargo surveyor Intertek estimating Malaysia's June palm oil exports at 1.39 million tonnes, up by 5.8 per cent from a month ago," he added.

At close, July 2014 eased RM12 to RM2,448 a tonne, August 2014 was down by RM11 to close at RM2,440, September 2014 declined RM16 to RM2,426 and October 2014 fell RM13 to RM2,426.

Volume decreased to 34,246 lots, from 36,041 lots last Friday, while open interest narrowed to 227,656 contracts, from 227,681 contracts previously.    

On the physical market, July South eased RM20 to RM2,480 a tonne, from RM2,500 a tonne last Friday.