Palm Futures end Nears Four-month Low

KUALA LUMPUR: Crude palm oil futures contracts closed at a near four-month low yesterday amid the weak export data by surveyors, a dealer said.

Interband Group senior palm oil trader, Jim Teh, said investors were cautious in a volatile market, with weak economic data from the United States and China, signalling a slowdown in global growth.

May 2013 shed RM38 to RM2,245 a tonne, June 2013 fell RM42 to RM2,252, July 2013 lost RM41 to RM2,255 and Augugust 2013 fell RM42 to RM2,257.

Turnover decreased to 17,147 lots from the 22,680 lots recorded last Friday, while open interest depreciated to 170,442 contracts from 175,289 contracts last Friday.

On the physical market, May South declined RM20 to RM2,280 a tonne.

Source : Business Times

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