Palm Futures Decline for 3rd Consecutive Day

CRUDE palm oil futures extended their losses for the third consecutive day yesterday on weak demand amid negative sentiment in the global market, dealers said.

October 2011, November 2011 and December 2011 shed RM25 each to RM2,830, RM2,800 and RM2,785 a tonne respectively while January 2011 eased RM24 to RM2,790.

Trading volume increased to 28,757 lots from 25,612 lots yesterday, while open interest amounted to 133,710 contracts from 132,902 previously.

On the physical market, October South slipped RM20 to RM2,830 a tonne.

Source: Business Times

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