Palm Futures Ease as Investors Stay on Sidelines

CRUDE palm oil futures on Bursa Malaysia Derivatives closed lower

yesterday as investors stayed on the sidelines to await the release of

May 1-10 export data, dealers said.

A dealer said the downtrend was in line with the lower soyaoil prices on the Chicago Board of Trade.

June

2011 closed RM61 lower at RM3,374 a tonne, July 2011 fell RM33 to

RM3,371, August 2011 shed RM34 to RM3,354 and September 2011 eased RM29

to RM3,352.

Turnover

rose to 19,470 lots from 15,424 lots on Monday while open interest

decreased to 106,331 contracts from 107,608 previously.

On the physical market, June South ended RM50 lower at RM3,400 a tonne from RM3,450 a tonne on Monday.

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