KUALA LUMPUR: The crude palm oil futures on Bursa Malaysia Derivatives closed sharply lower yesterday following mild profit- taking, a trader said.
Interband Group Senior Palm Oil Trader Jim Teh said traders are still recovering from the new year blues and are still cautious in the absence of fresh catalysts.
January 2013 fell RM39 to RM2,289 a tonne, February 2013 lost RM24 to RM2,343, March 2013 declined RM27 to RM2,393 and April 2013 dwindled RM26 to RM2,434.
Turnover slipped to 42,454 lots from 58,065 lots while open interest dropped to 200,601 contracts from 218,463 on Monday.
On the physical market, January South was flat at RM2,250 from Monday.
Source: Business Times
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