CRUDE palm oil futures on the Malaysia Derivatives Exchange closed
lower yesterday due to a strengthening of the ringgit, dealers said.
They
said the stronger local currency against the US dollar dampened
sentiment, as the commodity became unattractive to both hedge funds and
importers.
The May 2010 and August 2010 contracts declined RM24
each to RM2,496 and RM2,470 a tonne, respectively. June 2010 fell
RM25 to RM2,483 and July 2010 dropped RM27 to RM2,471.
Volume declined to 11,659 contracts from 17,814 lots on Tuesday and open
interests slipped to 67,525 contracts from 67,796 contracts previously.
In
the physical market, May South stood at RM2,500 a tonne.
Source : Business Times
