Palm Futures Dip on Traders Cautious

KUALA LUMPUR: Crude palm oil futures closed lower yesterday as investors remained cautious ahead of the US presidential and congressional elections, dealers said.

A dealer said the market was also weaker due to higher palm oil stocks.

November 2012 fell RM20 to RM2,280 a tonne, December 2012 fell RM27 to RM2,325, January 2013 fell RM39 to RM2,372 and February 2013 eased RM30 to RM2,425.

Turnover fell to 34,020 lots from 44,480 lots while open interest fell to 164,679 contracts from 174,893 a tonne previously.


On the physical market, November South slipped to RM2,300 from RM2,310 a tonne on Monday.


Source :  Business Times
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