KUALA LUMPUR: Crude palm oil futures contracts on Bursa Malaysia Derivatives closed mixed yesterday despite bearish export figures released by a cargo surveyor.
According to Societe Generale de Surveillance, exports of Malaysian palm oil products for May 1-15 fell three per cent to 611,277 tonnes, compared with 629,990 tonnes shipped during the same period last month.
“The market is quiet amid lack of demand from India and China due to huge inventories of palm oil,” said Interband group’s senior palm oil trader.
Spot month May 2013 stood at RM2,280 a tonne, June 2013 rose RM3 to RM2,295 a tonne, July 2013 dipped RM5 to RM2,297 a tonne and August 2013 was RM4 lower at RM2,297 a tonne.
Source : Business Times