Palm Futures Down on Profit-Taking

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower yesterday on profit-taking after the sharp increase, dealers said.

March 2012 fell RM18 to RM3,216 per tonne, April 2012 declined RM19 to RM3,241 per tonne, May 2012 was down RM18 to RM3,253 per tonne while June 2012 lost RM20 to RM3,250 per tonne.

Volume increased to 28,637 lots from 21,097 lots on Tuesday while open interest rose to 123,398 contracts from 120,493 contracts previously.

On the physical market, March South traded between RM3,130 and RM3,230.

Source: Business Times

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