Crude Palm Oil Futures Closed Sharply Lower

KUALA LUMPUR: Crude palm oil futures closed sharply lower for the second consecutive day yesterday due to a slowdown in demand for the commodity, dealers said.

A dealer said although there were continuous orders for CPO from China the gains were offset by weaker shipments to Europe and India.

December 2012 lost RM29 to RM2,340 a tonne, January 2013 eased RM24 to RM2,402, February 2013 shed RM14 to RM2,443 and March 2013 declined RM25 to RM2,472.

Turnover fell to 29,018 lots from 38,893 lots while open interest fell to 163,516 contracts from 171,119 previously.

On the physical market, November South added RM70 to RM2,320 a tonne from RM2,250 a tonne recorded on Tuesday. Bernama

Source : Business Times

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