Palm Futures Down as Stocks Rise

KUALA LUMPUR: Crude palm oil futures on Bursa Malaysia Derivatives closed lower yesterday prompted by concerns over rising local stocks dealers said.

A dealer said the market was also dragged down by the renewed focus on the eurozone debt crisis especially on Spain, the eurozone’s fourth-largest economy.

December 2012 fell RM48 to close at RM2,621 a tonne.
October 2012 lost RM59 to RM2,480, November 2012 declined RM60 to RM2,545 a tonne, while January 2013 lost RM53 to RM2,685 a tonne.

Trading volume fell to 34,447 lots from 41,793 lots while open interest slipped to 160,860 contracts from 164,411 contracts previously.

On the physical market, October South slipped RM40 to RM2,500 a tonne

Source : Business Times

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