KUALA LUMPUR, May 30: Malaysian crude palm oil futures ended down on Monday in razor-thin trade after reacting to a weak soyaoil and talk of uninspiring export numbers for May.
Output of palm oil in Malaysia, the top producing country, could hit another record in May, with an estimated rise of 3 per cent in production over April, a Reuters survey last week showed.
Analysts from five plantation companies forecast a median of 1,284,346 tons for May output, against a record 1,246,938 tons officially seen in April. Its high for the day was 1,418 ringgit and low 1,405.
Other traded months settled down 6 to 7 ringgit. Volume was a mere 1,621 lots of 25 tons each. The market usually sees 6,000 lots or more on a busy day.
In the central region, the same contract was bid/offered at 1,412.50/1,420 ringgit. Trades were reported for June at 1,420-1,415 ringgit in the south and 1,415-1,412.50 in the central region. The July contract saw bids/ offers at 1,420/ 1,425 in the south.—Reuters
