Palm Futures Lower on Bearish Sentiment

CRUDE palm oil futures contracts on Bursa Malaysia Derivatives eased yesterday after being on uptrend for the past few weeks, a dealer said. He said there was concern over gloomy economic outlook and Europe’s debt crisis.

November 2011 fell RM45 to RM2,819 a tonne, December 2011 shed RM45 to RM2,827, January 2012 dropped RM41 to RM2,835 and February 2012 lost RM45 to RM2,845.

Volume fell to 26,981 lots from 30,221 lots on Monday while open interest rose to 141,735 contracts from 139,482 contracts.

On the physical market, October South shed RM50 to RM2,840 a tonne.

Source: Business Times

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