Palm Futures Falls on Weak Demand

KUALA LUMPUR: Crude palm oil futures prices on the Malaysia Derivatives Exchange closed lower yesterday on weak demand for the commodity, a dealer said.

“Phillip Futures Sdn Bhd Derivative Product Specialist David Ng said the depreciation of the ringgit against the dollar and positive demand-supply fundamentals are expected to give underlying support,” he said.

At the close, July 2014 shed RM40 to RM2,410 per tonne, August 2014 and September 2014 eased RM40 each to RM2,377 per tonne and RM2,346 per tonne respectively, while October 2014 fell RM35 to RM2,331 per tonne.

Volume decreased to 36,041 lots from 53,867 lots on Thursday, while open interest narrowed to 259,649 contracts from 260,365 contracts previously.

On the physical market, July South eased RM35  to RM2,460 per tonne. Bernama

 

Source : New Straits Times

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