Oil Prices Below US$111

KUALA LUMPUR: Crude palm oil futures closed lower yesterday on a weaker export outlook as traders shifted their orders to Indonesia, dealers said.

Market analyst Societe Generale de Surveillance said local crude palm oil exports slumped to 74,640 tonnes for the January 1-25 period from 301,734 previously.

February 2012 fell RM47 to RM3,090 a tonne, March 2012 lost RM51 to RM3,085, April 2012 lost RM53 to RM3,082 and May 2012 shed RM51 to RM3,075 .

Turnover fell to 16,381 lots from 17,861 lots on Friday while, open interest slipped to 108,349 contracts from 108,690 perviously.

On the physical market, January South stood at RM3,120 . Bernama

Source : Business Times

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