Palm Futures Down in Quiet Trade

KUALA LUMPUR: Crude palm oil futures closed weaker yesterday on lack of demand, dealers said.

A dealer said the commodities markets were quiet as traders stayed on sidelines on worries about slower global economic growth.

He said there was also the fear among traders about the increase in CPO stock level.

December 2012 lost RM18 to RM2,160 a tonne, January 2013 depreciated by RM29 to RM2,326, February 2013 fell RM16 to RM2394 and March 2013 eased RM15 to RM2,435.

Turnover fell to 31,818 lots from 35,938 lots while open interest declined to 171,428 contracts from 171,916 recorded previously.

On the physical market, December South depreciated to RM40 to RM2,160 a tonne from RM2,200 recorded on Tuesday. 

Source : Business Times

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