KUALA LUMPUR: Crude palm oil futures contract closed lower yesterday, on concerns over November’s weak exports, a dealer said.
Phillip Futures, derivative product specialist David Ng said the lower offtake capped gains in the otherwise firm market as output was likely to decline in key producing countries due to the wet weather.
December 2013 and January 2014 eased RM9 each to RM2,599 and RM2,617, respectively, while February 2014 lost RM8 to RM2,631 and March 2014 eased RM7 to RM2,636 a tonne.
Turnover fell to 22,117 lots from 36,776 lots while open interest fell to 172,740 from 188,017 contracts on Tuesday.
On the physical market, December South was RM10 slipped to RM2,630.
Source : Business Times