Palm | Kelapa Sawit

Palm oil futures slid down further as it continued losing its momentum in a very quiet trading day. Benchmark Apr09 immediately hit the morning low of 1755 after a mix start at 1786. Easier eCBOT coupled with gloomy market sentiment sent prices to slid lower to 1755 before it bounced back to close at 1776 for the morning break. Prices continue to be under pressure but trading in thin and lack luster mood. It hovered mostly between 1750 to 1760 before a late selling activity emerged and sent Benchmark Apr09 to intra day low at 1739 before it finally settled RM37 lower at 1745. Total daily volume remains thin as many traders were still away for the Chinese New Year holiday.