Palm Futures Falls on Profit-booking

KUALA LUMPUR: Crude palm oil futures contracts on Bursa Malaysia Derivatives closed lower yesterday on profit-booking amid higher global soyabean supply outlook forecast by the United States Department of Agriculture.

The weaker ringgit and declining palm oil output capped the downside.

February 2014 declined RM16 to RM2,610 a tonne, March 2014 was down RM2 to RM2,613 a tonne, April 2014 lost RM6 to RM2,610 a tonne and May 2014 slipped RM7 to RM2,603 a tonne.

Turnover rose to 41,418 lots from 38,281 lots while open interest increased to 228,740 contracts from 227,942 contracts. 

On the physical market, February South garnered RM10 at RM2,620 a tonne.


Source :  Business Times

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