Palm Futures Dip Due to Selling Pressure

KUALA LUMPUR: Crude palm oil futures prices on Bursa Malaysia Derivatives extended their downtrend yesterday due to selling pressure, influenced by weak crude oil prices, a dealer said.

“However, last-minute buying activities, arising from lower prices helped limit losses,” she added.

May 2012 and June 2012 fell RM11 each to RM3,461 and RM3,463 a tonne, respectively. July 2012 lost RM19 to RM3,452 and August 2012 dropped RM9 to RM3,435.
 
Volume rose to 27,369 lots from 21,351 lots from Monday and open interest improved to 123,711 contracts from 121,944 contracts recorded previously.

On the physical market, May South slipped RM20 to RM3,470 a tonne.

Source : Business Times

Leave a Reply