Palm Futures Down on Weak Demand

KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed lower for the fourth consecutive trading day yesterday, as demand continues to weaken in the United States and China, a dealer said.

January 2014 lost RM36 to RM2,530 a tonne, February 2014 fell RM48 to RM2,542, March 2014 slipped RM48 to RM2,561, April 2014 and June 2014 declined RM41 each to RM2,569 and RM2,568, respectively, while May 2014 dropped RM342 to RM2,572. 

Turnover fell to 28,972 lots from Monday’s 47,264 lots while open interest declined to 185,185 contracts from 196,380 contracts previously.

On the physical market, January South was down RM20 to RM2,560 per tonne.


Source :  Business Times

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