Palm Futures Dip on Profit-Taking

CRUDE palm oil futures on Bursa Malaysia Derivatives closed lower yesterday on profit-taking, dealers said.

There was no buying interest from traders for October, November and December futures contracts.

September 2011 decreased RM41 to RM3,144 a tonne, while October, November and December 2011 remained unchanged at RM3,109,RM3,050 and RM3,043 a tonne respectively.

Turnover dropped to 1,952 lots from 15,217 lots last Friday while open interest was higher at 130,800 contracts from 128,216 previously.

On the physical market, September South decreased to RM3,145 a tonne from RM3,200 a tonne last week.

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