Palm Futures Lower on Firmer Ringgit

KUALA LUMPUR: Crude palm oil futures contracts closed lower yesterday, weighed down by the ringgit’s recent strength, a dealer said.

However, the losses were lower than Wednesday’s, after the release of the Malaysian Palm Oil Board’s report, which showed stocks fell to their lowest in seven months, he added.

Spot month April 2013 and May 2013 both declined RM19 each to RM2,319 a tonne and RM2,341, respectively. June 2013 lost RM18 to RM2,353 and July 2013 fell RM19 to RM2,362 a tonne.

Turnover declined to 32,041 lots from 34,101 lots on Wednesday and open interest fell to 178,747 contracts from 181,580 contracts.

On the physical market, April South declined RM10 to RM2,360 a tonne. 

Source : Business Times 

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