Weak Palm Futures Trend

KUALA LUMPUR: Crude palm oil futures contracts on Bursa Malaysia Derivatives closed lower yesterday, a dealer said.

He said there was some profit taking with traders not taking up any position ahead of the long holiday break beginning this weekend for the Chinese New Year celebrations.

February 2013 was RM12 easier at RM2,469 a tonne, March 2013 was RM4 down at RM2,526, April 2013 lost RM7 to RM2,542 and May 2013 fell RM3 to RM2,563 a tonne.

Turnover increased to 29,055 from 28,536 lots, while open interest rose to 200,925 from the 199,271 contracts. On the physical market, February South lost RM10 to RM2,440 a tonne. Bernama

Source : Business Times

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