Palm Futures Down on Weak Fundamentals

KUALA LUMPUR: Crude palm oil futures contracts on Bursa Malaysia Derivatives ended lower yesterday amid weak fundamentals in light of recent lacklustre export performance and risk of higher inventories in coming months.

Phillip Futures Sdn Bhd derivative product specialist David Ng said the prices were marginally higher in the morning due to some bargain buying interest and short covering after the recent sharp fall in prices.

Spot month August 2013 dropped RM26 to RM2,259 a tonne, September 2013 lost RM28 to RM2,245 a tonne and October 2013 fell RM45 to RM2,263 a tonne. November 2013 was at RM2,224 a tonne.

Turnover slipped to 31,639 lots from 47,577 lots on Monday.


Source : Business Times 

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