May 24, 2003	Saturday	Rabi-ul-Awwal 21,1424

KUALA LUMPUR, May 23: Malaysia’s palm oil futures tracked lower on Friday after the market failed to sustain earlier gains in the face of chart resistance, traders said.

The benchmark third-month August contract fell 10 ringgit to 1,390 ringgit ($365.79) a ton after trading as high as 1,395 ringgit. The contract had touched a low of 1,377 ringgit.

Deals were reported at 1,480 to 1,485 ringgit a ton.

May contract for central was offered at 1,490 ringgit a ton against bids of 1,482.50 ringgit. Deals were reported at 1,480 to 1,485 ringgit a ton.

June CPO for south and central regions was heard at 1,490/1,480 ringgit a ton. Business was reported at 1,475 to 1,480 ringgit a ton for south and central. —Reuters