Palm Futures Dip on Late Heavy Selling

KUALA LUMPUR: Crude palm oil (CPO) futures closed lower yesterday amid a range-bound trade and heavy selling 15 minutes before the market closed, a dealer said.

“The local market was weighed down by the weaker external market brought on by the eurozone debt crisis,” she added.

May 2012 was down RM14 to RM3,472 per tonne, and June 2012 dropped RM35 to RM3,474 per tonne. July 2012 decreased RM34 to RM3,471 per tonne and August 2012 dropped RM42 to RM3,444 per tonne.
 
Volume rose to 21,351 lots from 21,059 lots while open interest fell to 121,944 contracts from 123,053 contracts.

On the physical market, May South slipped RM20 to RM3,4910 per tonne.

Source : Business Times

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