KUALA LUMPUR: The crude palm oil (CPO) futures contract closed sharply lower yesterday on lack of buying interest, a dealer said.
She said weak China Industrial production data and news of huge losses at JPMorgan Chase kept buyers away from the market.
“Buyers were reluctant to hold positions ahead of the weekend amid gloomy global economic growth,” she added.
May 2012 lost RM70 to RM3,285 and June 2012 dropped RM77 to RM3,283 per tonne. July 2012 decreased RM74 to RM3,275 and August 2012 fell RM75 to RM3,265 per tonne.
Volume rose to 30,413 lots from 27,230 lots, while open interest fell to 123,413 contracts from 124,861.
Source : Business Times