Palm Futures Lower on Profit-taking

KUALA LUMPUR: Crude palm oil futures contract on Bursa Malaysia Derivatives ended easier prompted by profit-taking activities after its recent gains, with the market anticipating a huge increase in stocks, dealers said.

Spot month September 2012 declined RM58 to RM2,974 per tonne, nearby October 2012 was RM68 lower at RM3,000 per tonne, November 2012 shed RM62 to RM3,029 per tonne and December 2012 lost RM61 to RM3,041 per tonne.

Volume rose to 26,978 lots from 25,999 lots while open interest rose to 146,486 contracts from 144,144 contracts before. On the physical market, June South shed RM90 to RM2,950 per tonne.

Source : Business Times

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