02/06/2016 (Bernama) - Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed lower today tracking the overnight losses in crude oil and soybean oil prices, said a dealer.

Phillip Futures Sdn Bhd Derivative Product Specialist David Ng said the decline in CPO futures prices was also driven by weaker demand for the commodity ahead of the Ramadan fasting month which is expected to begin on June 6.

On the weaker ringgit which was quoted at 4.1410 to the US dollar today from yesterday's 4.1260, Ng said it was supportive of the market in the short term and would also be beneficial for exports generally.