CPO falls ahead of key crop report
KUALA LUMPUR: Crude palm oil (CPO) futures fell lower yesterday as buyers stayed on the sidelines awaiting the release of key crop report due tomorrow.
Phillip Futures Sdn Bhd derivative products specialist, David Ng, said the local market expected a lower CPO production for September.
He said this might lower the inventory level in the country.
At the close, November 2014 and January 2014 slipped RM6 each to RM2,207 and RM2,201 per tonne respectively, while December 2014 fell RM4 to RM2,191 per tonne.
Meanwhile, October 2014 was unchanged at RM2,220 per tonne.
Volume rose to 47,791 lots from 45,039 lots on Wednesday while open interest improved to 318,992 contracts against 311,158 contracts previously.
On the physical market, October South was RM10 lower at RM2,220 a tonne. Bernama