KUALA LUMPUR: Crude palm oil futures contracts on Bursa Malaysia Derivatives closed lower yesterday following the downtrend in commodities such as gold and copper, said Interband Group senior palm oil trader Jim Teh.
“The fall in the prices was affected by a decline in the number of traders participating in the market as they went back to their hometown to vote in the 13th General Election yesterday,” he said.
Spot month May 2013 decreased RM2 to RM2,229 a tonne, June 2013, July 2013 and August 2013 each fell RM2 to RM2,249, RM2,250 and RM2,248, respectively.
Turnover slipped to 22,837 lots from 30,912 lots last Friday and open interest fell to 185,243 contracts from 191,703 contracts previously.
On the physical market, May South decreased to RM2,260 from RM2,280 a tonne.
Source : Business Times