Palm Futures Buyers Stay on Sidelines

KUALA LUMPUR: Crude palm oil futures contracts closed lower yesterday as buyers remained on the sidelines, resulting in the stockpile to stand high, a dealer said.

Spot month February 2013 and March 2013 went down RM9 each to RM2,436 a tonne and RM2,475 a tonne, respectively.

Meanwhile, April 2013 and May 2013 declined RM10 each to RM2,495 and RM2,512 a tonne, respectively.

Turnover rose to 20,263 lots from Wednesday’s 18,873 lots while open interest depreciated to 191,270 contracts from 192,674 contracts recorded previously.

On the physical market, February South was up RM10 to RM2,450 a tonne.

Source :  Business Times

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