KUALA LUMPUR, May 19: Malaysian crude palm oil futures ended almost flat on Thursday as late selling erased gains built on the back of higher US soyaoil and talk of good palm oil exports in May. Fear that the government might revalue the ringgit at any time was also playing on investors’ minds, dealers said.
Except for November, which closed up 9 ringgit, other traded months settled down 1 to 3 ringgit. Volume totalled 4,746 lots of 25 tonnes each, compared with Wednesday business of 5,914 lots. The market usually sees 6,000 lots or more on a busy day.
Palm oil futures jumped 1 per cent on Wednesday on talk that May exports had almost crossed the million-tonne mark. Deals were reported at 1,410-1,405 ringgit a ton in the south and 1,405-1,400 in the central region.
June physical crude palm oil was bid/offered at 1,400/1,410 ringgit a ton in the south and 1,395/1,405 in the central region. Trades were reported in the south only, at 1,410. —Reuters
