Palm Futures Rise on Stocks Concerns

KUALA LUMPUR: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives dipped yesterday on concerns over rising stocks and the uncertain global economic outlook.

Spot month October dipped RM120 to RM2,300 per tonne, November declined RM69 to RM2,392 per tonne while January 2013 decreased RM81 to RM2,528 per tonne. Benchmark December fell RM52 to RM2,494 per tonne.

Turnover rose to 42,523 lots from last Friday’s 36,951 lots while open interest decreased to 168,580 contracts from 169,317 contracts previously.
On the physical market, October South declined RM70 to RM2,360 per tonne

Source : Business Times

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