May 7, 2003	Wednesday	Rabi-ul-Awwal 4, 1424

KUALA LUMPUR, May 6: Malaysian palm oil futures were softer at the close on Tuesday due to bearish April crop data, traders said.

But talk of fresh purchases by Egypt helped cushion the falls, they said.

The benchmark third-month July contract was three ringgit lower at 1,361 ringgit ($358.16) a ton after trading as low as 1,353 ringgit.

Volume was moderate at 3,566 lots.

Exports in April were estimated at 935,000 tons, compared with the official figure of 961,570 tons for March.

In a previous estimate, Wong put April production at 1.04-1.05 million tons, up about six per cent from March.

In the physical market, May CPO for the southern region was offered at 1,445 ringgit a ton against bids of 1,442.50.

Trade was reported at 1,442.50-1,445 ringgit a ton.

May CPO central region was offered/bid at 1,445/1,440 ringgit a ton. Business was reported at 1,440 ringgit a ton.—Reuters