KUALA LUMPUR: Crude palm oil (CPO) futures prices fell yesterday amid overwhelming bearish sentiments in the market, a dealer said.
He said traders were concerned that at the current low prices demand was expected to remain sluggish.
“Many buyers are still waiting on the sidelines hoping to get a cheaper bargain in anticipation of further depression in price,” he said.
At the close, September 2014, October 2014 and November 2014 each slipped RM47 to RM1,937 a tonne, RM1,929 and RM1,929 respectively while December 2014 fell by RM46 to close at RM1,966.
Volume rose to 59,300 lots from 49,349 lots on Thursday while open interests increased to 316,694 contracts from 302,110 contracts yesterday.
On the physical market, September South dipped RM30 to RM1,980 a tonne from RM2,010 a tonne previously. Bernama