Palm Futures Down As Market Retreats

Crude palm oil futures on Bursa Malaysia Derivatives closed lower, retreating from recent advances where prices struggled to break the RM3,000 per tonne price level, dealers said.

October 2010 slipped RM5 to RM2,875 a tonne, November 2010 fell RM5 to RM2,923 , December 2010 slipped RM14 to RM2,916, January 2011 fell RM12 to RM2,920 and February 2011 eased RM12 to RM2,920.

Turnover was higher at 22,166 lots from 16,025 lots on Wednesday while open interest rose to 69,515 contracts from 69,224 previously.

On the physical market, October South fell to RM2,930 a tonne from RM2,940 on Wednesday.

Source: Business Times


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