Palm Futures Down on Bearish Export Data

CRUDE palm oil futures prices on Bursa Malaysia Derivatives closed slightly lower yesterday following bearish export data, dealers said.

They said market sentiment was dragged down by weaker export data released by cargo surveyors Societe Generale de Surveillance and Intertek Testing Services.

February 2012 rose RM21 to close at RM3,161 a tonne while March 2012 decreased RM24 to RM3,136.

April 2012 slipped RM28 to RM3,126 per tonne and May 2012 fell RM23 to RM3.125.

Volume increased to 28,163 lots from 18,142 lots last Friday while open interest went up to 116,764 contracts from 115,389.

On the physical market, January South was flat at RM3,170.

Source:  Business Times

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