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October 18, 2002
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Friday
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Sha'aban 11, 1423
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Palm oil prices
KUALA LUMPUR, Oct 17: Malaysian crude palm oil futures ended lower on Thursday on a technical pullback following sharp gains and record high volume a day earlier, traders said.
At the close, the new benchmark third-month January futures were six ringgit lower at 1,421 ringgit a ton after trading as high as 1,434 ringgit.
Volume was heavy at 4,311 lots, but down from a staggering 10,824 lots on Wednesday.
October contract was offered at 1,420 ringgit a ton against bids of 1,415 for south and central. Deals were done at 1,420 to 1,425 ringgit for both sides.
November was offered at 1,422.50 ringgit a ton against bids of 1,417.50 ringgit for south and central. There were deals at 1,420 to 1,425 for both sides.—Reuters
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