CPO futures contract lower on profit-taking


Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives Exchange ended lower yesterday on profit-taking after posting gains for four consecutive days, dealers said.

A dealer said the traders may also stay cautious ahead of the 29th Palm and Lauric Oils Price Outlook Conference and Exhibition, which will be held on March 5-7, 2018.

Meanwhile, Societe Generale de Surveillance reported that Malaysia’s palm oil exports fell 11% in February to 1.16 million tonnes, down from 1.31 million tonnes in the previous month.

March 2018 fell RM7 to RM2,564 per tonne, April 2018 dropped RM11 to RM2,558 per tonne, May 2018 shed RM10 to RM2,549 and June 2018 lost RM8 to RM2,540 per tonne.

Turnover depreciated to 34,658 lots from 39,277 lots on Wednesday and open interest decreased to 250,611 con- tracts from 256,656 contracts.

On the physical market, March South was RM10 lower at RM2,570 per tonne. — Bernama