CPO PRICES CLOSE UNCHANGED TO SLIGHTLY LOWER

12 Jul 2013 11:19

KUALA LUMPUR, July 11 (Bernama) -- Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed unchanged to slightly lower today on slowdown in demand as fall in inventories.

Malaysian Palm Oil Board (MPOB) reported yesterday Malaysia's June inventories fell 9.4 per cent to 1.65 million tonnes.

Phillip Futures Sdn Bhd derivative product specialist, David Ng, told Bernama investors were still concerned that palm oil stocks could rise again as production may increase in the remaining months of the year.

Both July 2013 and August 2013 remain unchanged at RM2,390 and RM2,382, respectively, September 2013 eased RM5 to RM2,372 and October 2013 shed RM6 to RM2,363 per tonne. Turnover dropped to 27,033 lots from 37,350 lots yesterday while open interest decreased to 207,177 contracts from 219,883 contracts Wednesday.

On physical market, June South was unchanged at RM2,400 a tonne. -- BERNAMA

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