KUALA LUMPUR: The crude palm oil (CPO) futures contracts closed lower yesterday on some profit taking, said Interband Group Senior Palm Oil Trader, Jim Teh.

He said there was some speculative play due to the forthcoming general election and expected the commodity to trade softer in future.

Meanwhile, spot month February 2013 lost RM14 to RM2,481 a tonne, March 2013 dropped RM10 to RM2,530, April 2013 depreciated by RM15 to RM2,549 a tonne and May 2013 declined RM18 to RM2,566 a tonne.

Turnover declined to 28,536 lots from 32,005 lots on Monday while open interest rose to 199,271 from 198,360 contracts previously.

Source : Business Times