Palm Futures Lower Despite Higher Oil Prices

THE crude palm oil futures contract market ended lower on Bursa Malaysia Derivatives yesterday despite higher crude oil prices and better export data for May.

Lingering concerns over the Eurozone debt crisis kept investors at bay and from taking up fresh positions. Many winded down their contracts in the absence of market moving factors.

June was unchanged at RM2,525 per tonne, July fell RM30 to RM2,430 per tonne, August eased RM24 to RM2,386 per tonne and September dipped RM25 to RM2,360 per tonne.

Volume, however, increased to 19,312 lots, from 8,641 lots on Thursday.

On the physical market, June South added RM5 to RM2,540 per tonne.

Source : Business Times

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