Palm Futures Down Sharply

KUALA LUMPUR: The crude palm oil futures on Bursa Malaysia Derivatives closed sharply lower yesterday on lack of buying interest, a dealer said.

She said discouraging China and US data, as well as, political uncertainty in the Euro zone kept buyers away from the market.

May 2012 lost RM101 to RM3,184 per tonne, June 2012 dropped RM130 to RM3,153 a tonne, July 2012 fell by RM125 to RM3,150 and August 2012 fell RM126 to RM3,139.
 
Volume rose to 40,345 lots, from 30,413 lots last week, while open interest fell to 122,887 contracts, from 123,413, previously.

On the physical market, May South fell RM90 to RM3,220.

Source : Business Times

Leave a Reply