KUALA LUMPUR, June 24: Malaysian palm oil prices extended gains but trade was light, with players awaiting key export data due between Saturday and next week for clearer market direction.
In Friday’s electronic trade, CBOT soyaoil’s key July contract rose as much as 0.26 cent to 25.50 cents. It had closed down 0.08 cents in Thursday’s formal trade.
In palm oil, the benchmark third-month futures on Bursa Malaysia Derivatives, September, ended Friday’s trade up 4 ringgit at 1,440 ringgit a ton.
Other traded months settled morning trade up 2 to 4 ringgit.
Overall volume was a mere 3,225 lots of 25 tons each. The market usually sees 6,000 lots or more on a busy day.
In physical trade of crude palm oil, the combined months of June and July saw bids closing at 1,442.50 ringgit a ton in Malaysia’s southern region, against offers at 1,447.50.
In the central region, bids/offers stood at 1,440/1445 ringgit.
Trades were reported at 1440-1445 ringgit in the south and 1,437.50-1,442.50 ringgit in the central region. —Reuters
