KUALA LUMPUR: The crude palm oil futures on closed lower with market players cautious over stocks building up.

The US Fed monetary policy meeting, yesterday, would shed some light on the market’s immedite direction, said a dealer.

Malaysia’s weak July export data and concerns over the drought in the US dampened dealers’ sentiment.
 
August 2012 eased RM33 to RM2,922 a tonne, September 2012 fell RM33 to RM2,932, October 2012 shed RM35 to RM2,945 and November 2012 lost RM32 to RM2,953.

Volume fell to 27,269 lots, from 34,609 lots, while open interest fell to 138,135 contracts, from 139,562 lots.

On the physical market, August South eased RM20 to RM2,930 a tonne.

Source : Business Times

For more news update visit our  Facebook