Palm Futures Lower on Lack of Demand

KUALA LUMPUR: Crude palm oil futures contracts was lower yesterday on lack of demand. 

Phillip Futures Sdn Bhd derivative product specialist David Ng said the price spread between palm oil, soya oil and sunflower oil has narrowed significantly.

At close, January 2014 and February 2014 were RM7 lower to RM2,510 and RM2,522 a tonne, respectively, March 2014 eased RM8 to RM2,539, April 2014 fell RM6 to RM2,550, May 2014 fell RM8 to RM2,554 and June shed RM6 to RM2,549.

Turnover rose to 47,513 lots from Wednesday’s 47,368 lots while open interest increased to 204,105 contracts from 202,183 contracts previously.

On the physical market, January South shed RM10 to RM2,530 a tonne.

Source : Business Times

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