“However, the losses were cushioned by industry expectation of a zero per cent export tax, which could push demand for the commodity,” he said.

January decreased RM18 to RM2,364 per tonne, February erased RM19 to RM2,438, March declined RM27 to RM2,474 and April reduced RM35 to RM2,510.

Turnover increased to 36,244 lots from Wednesday’s 33,431 lots while open interest increased to 197,123 contracts from 195,021 contracts previously.

On the physical market, January South fell RM20 to RM2,280 per tonne. Bernama