KUALA LUMPUR: Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed lower yesterday on selling pressure amid bearish report from Malaysia Palm Oil Board and lack of new market leads, a dealer said.

Phillip Futures derivative product specialist, David Ng, said selling pressures were further aggravated by the huge fall in exports in the first ten days as reported by cargo surveyors.

Spot month August 2014 eased RM61 to RM2,230 a tonne, September 2014 slipped RM55 to RM2,202 a tonne, October 2014 fell RM56 to RM2,177 a tonne, and November 2014 declined RM59 to RM2,171 a tonne.

The volume increased to 47,549 lots from 39,121 lots on Friday while open interest rose to 281,716 contracts from 266,354 contracts previously.

On the physical market, August South was RM70 lower at RM2,240 a tonne from RM2,310 a tonne last Friday. Bernama

Source : New Straits Times