KUALA LUMPUR, Dec 8 -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives extended yesterday’s losses to end lower today due to lack of demand for the commodity and weaker soybean oil prices.

A dealer said traders would also be focusing on the monthly release on performance of the Malaysian palm oil industry, by the Malaysian Palm Oil Board on Dec 10.

“Yesterday, the Southern Palm Oil Millers Association’s estimated production for Dec 1-5 dropped 4.2 per cent from last month,” he said.

At the close of trading today, the CPO futures contract for December 2020 rose slightly by RM9 to RM3,651 per tonne, January 2021 dropped RM28 to RM3,485 per tonne, February 2021 dipped RM31 to RM3,366 per tonne, and March 2021 narrowed RM38 to RM3,263 per tonne.

Total volume shrank to 50,108 lots from 65,524 lots on Monday, while open interest fell to 234,665 contracts from 250,860 contracts previously.

The physical CPO price for December South rose RM20 to RM3,660 per tonne.

-- BERNAMA

BERNAMA - CPO futures extend losses to end lower
Sumber : Bernama