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KUALA LUMPUR, Aug 26: Malaysian palm oil was up on Monday on strong export estimates for the first 25 days of August but the market closed off its highs following some technical selling, dealers said.
Palm oil’s benchmark third month November futures ended the day six ringgit up at 1,524 ringgit ($401) a tonne after touching a high of 1,535.
Volume was at 2,395 lots, up from Friday’s 2,111.
Palm oil prices were up in Monday’s early session after Intertek Testing Services one of the market’s two cargo surveyors, estimated exports for August 1-25 at 744,050 tons, against 714,852 tons for July 1-25.
—Reuters
