Palm Futures Down on EU woes

KUALA LUMPUR: The crude palm oil futures closed lower yesterday due to persistent worries over the eurozone debt crisis, a dealer said.

The market recovered a while on bargain hunting, but players stayed on the sidelines, awaiting fresh leads from the US and European Union policymakers, the dealer said.

June 2012 declined RM36 to RM2,954 per tonne, July 2012 was easier by RM23 to RM2,980, August 2012 shed RM29 to RM2,974 and September 2012 depreciated RM23 to RM2,975 per tonne.
Volume increased to 34,801 lots from 25,208, while open interest edged up to 98,735 contracts from 97,632.

On the physical market, June South unchanged at RM3,000 per tonne.

Source : Business Times

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