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CPO futures end mostly lower
Last update: 12/07/2018

By Farhana Poniman

KUALA LUMPUR, July 12 (Bernama) -- The crude palm oil (CPO) futures contract†on Bursa Malaysia Derivatives†ended mostly lower today, as losses in†related edible oils hampered demand for the commodity.

Phillip Futures Sdn Bhd Derivative Product Specialist†David Ng said furthermore, the friction between the United States and China also affected demand as this would likely impact trade for CPO.

"Prices have†slumped below RM2,200, which were aggravated by concern over rising production. We locate support level at RM2,150†per tonne and resistance at RM2,250 per tonne," he told Bernama.

At the close, July 2018 increased RM24†to RM2,180 a tonne, August 2018 declined RM19 to RM2,179†a tonne, September 2018 fell RM20 to RM2,184 a tonne, and October 2018 was RM17 lower at RM2,196 a tonne.

Turnover increased to 61,228 lots from 41,205 lots yesterday,†while open interest rose†to 318,581 contracts from†294,695 contracts.

On the physical market, July South eased RM10†to†RM2,220 per†tonne.†

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OPENING, WEDNESDAY, JULY 18
US 4.0530/0600
S'pore 2.9686/9748
100 Yen 3.5867/5939
Sterling 5.3131/3235
Euro 4.7238/7327
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?
 

 
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