KUALA LUMPUR: Crude palm oil futures contracts closed lower yesterday as the World Bank cut the economic growth outlook of China, the world largest edible oil consumer, to 7.7 per cent from 8.4 per cent previously.
Both June and July 2013 each slipped RM31 to RM2,389 and RM2,418 a tonne respectively while August 2013 and September 2013 each dropped RM27 to RM2,424 a tonne respectively.
Turnover increased to 22,235 lots from 17,041 lots on Wednesday, while open interest improved to 191,460 contracts from 185,151 previously.
On the physical market, June South was flat at Wednesday’s RM2,440 a tonne.
Source : Business Times