Palm Futures Dip on Lack of Demand

KUALA LUMPUR: Crude palm oil futures prices on Bursa Malaysia Derivatives extended their losses yesterday due to lack of demand for the commodity, a dealer said.

She said market players stayed on the sidelines as they were concerned over the bearish global economic environment.

May 2012 contract fell RM25 to RM3,473 a tonne, June 2012 lost RM17 to RM3,476, July 2012 dwindled RM12 to RM3,463 while August 2012 slid RM20 to RM3,449.

Volume dipped to 17,378 lots from 26,086 lots yesterday while open interest was slightly higher to 122,096 contracts from 122,086 contracts on Monday.

On the physical market, April South slipped RM20 to RM3,480 a tonne.

Source: Business Times

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