Palm futures fall as buyers stay on the sidelines

CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed lower yesterday as buyers stayed on the sidelines on worries about euro debt crisis and its impact on global economy, dealers said.

July 2011 fell by RM66 to close at RM3,218, while August 2011 declined RM68 to RM3,200.

September 2011 eased by RM77 to RM3,193 and October 2011 slipped RM74 to RM3,198.

Turnover rose to 27,666 lots from 20,420 lots on Wednesday, while open interest declined to 113,438 contracts from 115,216 contracts previously.

On the physical market, June South fell to RM3,250 from RM3,300 per tonne on Wednesday. 

Source: Business Times

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