Palm futures close sharply lower

KUALA LUMPUR: Crude palm oil futures prices on Bursa Malaysia Derivatives closed sharply lower yesterday in tandem with regional markets and prompted by renewed worries over the global economy, dealers said.

The July 2012 contract shed RM51 to RM2,984 per tonne, August 2012 fell RM49 to RM2,996 per tonne, September 2012 decreased RM41 to RM3,000 per tonne and October 2012 declined RM38 to RM3,007 per tonne.

Turnover dropped to 36,568 lots from 52,086 lots on Wednesday while open interest was lower at 94,902 contracts from 99,125 contracts before.

On the physical market, June South went down RM40 to RM3,010 per tonne.

Source: Business Times

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