CPO Futures Slip on Bearish Sentiments

CRUDE palm oil futures on Bursa Malaysia Derivatives closed lower yesterday on concern over a possible slowdown in demand as winter approaches, dealers said.

This will put presure on demand for palm oil as soyabean is a close substitute.

December 2011 lost RM12 to RM3,058 a tonne, January 2012 shed RM3 to RM3,064, February 2012 slipped RM7 to RM3,062 while March 2012 dropped RM5 to RM3,060.

Turnover fell to 23,135 lots, from 33,559 lots, last Friday while open interest rose to 129,873 contracts, from 128,622 previously.

On the physical market, December South was down RM20 at RM3,080.

Source: Business Times

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