SINGAPORE, July 18: Malaysia’s crude palm oil futures fell across the board on Monday on persistent worries about slow demand from main consumers in coming months. Benchmark third-month crude palm oil on Bursa Malaysia Derivatives for October ended two ringgit lower at 1,417 ringgit ($372.89) a ton. It had fallen to a low of 1,413 ringgit. Overall volume was moderate at 2,003 lots.
Freight brokers and dealers said China was awash with cooking oil and was cutting down on imports, while top edible oil buyer India shows more interest in soyail because of lower taxes.
In physical trade of crude palm oil, July/August was offered at 1,415 ringgit a ton in the southern region, while bids stood at 1,410 ringgit.
Deals were reported at 1,405 to 1,415 ringgit a ton for July, and at 1,412.50 to 1,415 ringgit for August.
July/August was offered at 1,1415 ringgit against bids of 1,410 ringgit in the central region. Deals were done at 1,410 to 1,415 ringgit for both months.
