Palm Futures Dip as Traders Stay Cautious

KUALA LUMPUR: Crude palm oil futures contracts on Bursa Malaysia Derivatives
closed lower yesterday amid reports of a weak global economy, a dealer said. Interband Group senior palm oil trader, Jim Teh, said traders were cautious ahead of an industry conference to be held here next week.

March 2013 shed RM25 to RM2,350 a tonne, April 2013 lost RM27 to RM2,360, May 2013 fell RM29 to RM2,368 and June 2013 was RM28 lower at RM2,377.

Turnover fell to 35,258 lots from 54,738 lots, while open interest fell to 195,630 from 213,073 contracts.
On the physical market, March South slipped RM20 to RM2,340 a tonne.

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