Crude palm oil futures ended lower following concerns that China may impose a crackdown to curb food inflation and prices, dealers said.
“The market was very volatile today although there were no supply shortages at this point of time,” a dealer said, adding that some liquidation by traders was noted amid the concerns.
December 2010 declined RM104 to RM3,271 per tonne, January 2011 lost RM100 to RM3,270 and February 2011 fell RM110 to RM3,265.
Volume rose to 27,757 lots from Monday’s 23,282 lots while open interest amounted to 74,871 contracts from 74,328 contracts on Monday. On the physical market, November South eased RM80 to RM3,300 per tonne.
Source: Business Times