KUALA LUMPUR: Crude palm oil futures on Bursa Malaysia Derivatives closed lower yesterday on sluggish demand and concerns over production being affected by prolonged drought.

Market players are awaiting for the export data for this month to be released on Monday which will determine the global demand for tropical oil.

April 2014 fell RM37 to RM2,733 a tonne, May 2014 dwindled RM37 to RM2,672, June 2014 eased RM37 to RM2,654 and July 2014 lost RM30 to RM2,640.

Turnover slipped to 51,693 lots from Wednesday’s 58,950 lots while open interest tumbled to 233,620 contracts from 395,602 contracts yesterday. Bernama

Source : New Straits Times