KUALA LUMPUR: Crude palm oil futures contracts closed lower yesterday on weaker demand from China, dealers said.
Philip Futures Sdn Bhd Derivative Product Specialist David Ng said the day’s trading was caused by a slowdown in demand from China, adding that the prices are expected to be under pressure.
July 2013 slipped RM24 to RM2,370, August 2013 declined RM27 to RM2,382, September 2013 eased RM25 to RM2,379 and October 2013 decreased RM24 to RM2,376 a tonne.
Turnover shed to 22,812 from 38,358 lots, while open interest declined to 193,842 from 208,880 contracts.
On the physical market, June South trimmed RM20 to RM2,390 a tonne. Bernama
Source : Business Times