BANGKOK, Oct 14: Malaysia’s palm oil futures ended mostly flat on Friday as players limited their exposure ahead of export data due next week, dealers said. The third-month December crude palm oil contract on Bursa Malaysia Derivatives ended unchanged at 1,453 ringgit a ton ($385.4) on Friday, with overall volume active at 5,760 lots of 25 tons.
The December contract had risen as much as 9 ringgit in the morning, touching an intraday high of 1,462, following a rise in prices of rival US soyaoil. Soyaoil and palm oil compete for similar export destinations, and their prices often move in step.
The market closed practically unchanged, waiting for the first 15 days export figures, said one dealer in Kuala Lumpur, referring to the export numbers for Oct.1-15. Cargo surveyors Societe Generale de Surveillance (SGS) and Intertek Testing Services (ITS) are scheduled to release the export numbers for Oct. 1-15 next Monday.—Reuters
