Palm Futures Down on Profit-taking

KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed lower yesterday amid profit-taking activities after gains on the Chicago Board of Trade soyaoil futures market.

Philip Futures Sdn Bhd Derivative Product Specialist David Ng said the demand for oil was also slow amid the weak global economic growth.

New contract month August slipped RM36 to RM2,310 a tonne, September dipped RM31 to RM2,254, October fell RM36 to RM2,222 and November decreased RM32 to RM2,215.

Turnover increased to 36,235 lots from 34,198 lots on Tuesday, while open interest rose to 230,011 contracts from 225,883 contracts previously.

Source : Business Times 

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