KUALA LUMPUR: Crude palm oil (CPO) futures contracts closed lower yesterday on concerns over the increase in stockpiles amid weaker demand, a dealer said.

He, however, said the risk of the El nino occurrence in the later part of this year is seen to be supporting palm oil prices.

April 2014 lost RM38 to RM2,675 a tonne, May 2014 shed RM19 to RM2,648, June 2014 slipped RM14 to RM2,634 and July 2014 eased RM10 to close at RM2,627.

Turnover rose to 55,983 lots from 55,356 lots previously and open interest increased to 240,523 contracts from 237,060 previously.

On the physical market, April South dwindled RM50 to RM2,700 a tonne. Bernama

Source : New Straits Times