KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed sharply lower yesterday, dealers said.
OSK Research Sdn Bhd said palm oil had been languishing despite soyabean’s price strength.
“It takes time for soyabean supply shortfall to translate into demand for palm oil,” it said.
August 2012 and September 2012 fell RM13 each to RM2,817 and RM2,830, respectively. October 2012 declined RM11 to RM2,871 and November 2012 eased RM9 to RM2,900.
Volume increased to 32,726 lots from 28,006 lots while open interest rose to 149,365 contracts from 142,561 contracts last week.
On the physical market, August South slipped to RM2,750 a tonne.
Source : Business Times