KUALA LUMPUR: Crude palm oil futures contracts on Bursa Malaysia Derivatives closed lower yesterday on expectations of lower exports for the month.
Phillip Futures Sdn Bhd Investment analyst David Ng said the futures contracts were traded on a weaker note as rain over the past few days in parts of Malaysia and Indonesia eased some concerns over prolonged dryness hurting output in the longer run.
“The decline in Malaysia’s palm oil exports also weighed on prices,” he said.
April 2014 fell RM6 to RM2,865 a tonne, May 2014 lost RM3 to RM2,809 a tonne, June 2014 declined RM4 to RM2,773 a tonne and July 2014 eased RM5 to RM2,738 a tonne.
Turnover dwindled to 39,371 lots from 56,790 lots on Wednesday. Bernama
Source : New Straits Times