SINGAPORE, June 14: Malaysian palm oil futures ended mostly higher on Tuesday but dealers were cautious ahead of the release of key export data, which may confirm fears of declines in shipments. Benchmark August settled unchanged at 1,380 ringgit ($363.16) a ton after touching a high of 1,384 ringgit that reflected gains by US soyaoil futures.
Overall volume was moderate at 2,812 lots.
Dealers said exports of Malaysian palm oil products could reach around 700,000 tons in the first 15 days of June, down from 740,058 for May 1-15 as estimated by SGS, whose numbers are more closely watched by the market.
Exports for the whole of June were seen falling to 1.2 million tons, compared with 1,357,689 tons in May, because of slow seasonal demand. Deals were reported at 1,385-1,390 ringgit for June and at 1,390 for July.
June/July was offered at 1,385 ringgit against bids of 1,380 in the central region. Deals were reported at 1,380 to 1,387.50 for June and at 1,385 for July.
