KUALA LUMPUR: Crude palm oil futures prices on Bursa Malaysia Derivatives closed lower yesterday despite better export data, dealers said.
According to several research houses, Malaysia’s palm oil inventory stood at 1.67 million tonnes for August 2013, four per cent lower than market expectation of 1.74 million tonnes.
October 2013 dropped RM14 to RM2,310 a tonne while November 2013, December 2013 and January 2014 lost RM27 each to RM2,272, RM2,267 and RM2,269 per tonne, respectively.
Volume declined to 24,809 lots from 25,376 lots while open interest improved to 175,788 contracts from 175,248 contracts previously.
On the physical market, October South eased RM20 to RM2,320 per tonne.
Source : Business Times