KUALA LUMPUR, April 19: Malaysian crude palm oil futures barely moved on Tuesday as mixed fortunes in rival soyaoil and export estimates due a day later sidelined players. Exports were officially up 27 per cent in March. But estimates for the first 10 days of April showed a drop of 11 per cent. Official export figures for April are due on May 10.

It looks like demand is recovering, though the pick-up isn’t much, said a trader.

The low for the day was 1,422 ringgit and high 1,431. Other traded months closed up 2 to 3 ringgit.

Volume was a mere 2,826 lots of 25 tons each — less than half of the trade seen on a busy day.

Soyaoil and palm oil compete for similar export destinations and their prices often move in step.

In trade of physical crude palm oil on Tuesday, April and May saw bids at 1,430 ringgit a ton, against offers at 1,435 ringgit in Malaysia’s southern and central regions.

Trades were done at 1,425-1,430 ringgit in both regions.

—Reuters