Palm Oil Futures Contracts Continued to Trend Downwards

KUALA LUMPUR: Crude palm oil futures contracts continued to trend downwards on concern over demand from China due to the slowdown in its economy, dealers said.

Philip Futures derivative product specialist, David Ng, said trading was hurt by weaker demand from the world’s top importers.

New contract month July 2013 shed RM22 to RM2,348 a tonne, August 2013 declined RM23 to RM2,359, September 2013 eased RM24 to RM2,355 and October 2013 lost RM27 to RM2,349. 

Turnover rose to 30,897 lots from 22,812 lots on Wednesday, while open interest rose to 202,610 contracts from 193,842 contracts previously. 

On the physical market, June South fell RM20 to RM2,370 a tonne. Bernama

Source : Business Times 

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