KUALA LUMPUR, Dec 12: Malaysian crude palm oil futures closed higher on Monday, helped by positive export numbers for the first 10 days of December. Gains and activity were, however, limited by Friday’s weak close in Chicago soyaoil.
Some players also held onto their positions to wait for Tuesday’s release of official production, export and closing stock numbers for November. The third-month February contract on Bursa Malaysia Derivatives ended up 4 ringgit at 1,415 ringgit ($374.83) a ton, off the day’s high of 1,419.
In a shipment estimate released on Saturday, ITS said Malaysian palm oil exports for Dec. 1-10 grew 23 per cent to 323,835 tons from the 262,909 it tracked for Nov. 1-10.
SGS, whose numbers are more closely watched by the market, put Nov. 1-10 exports at 285,482 tons.
In Malaysia’s physical crude palm oil market, December was offered at 1,395 ringgit a ton against bids of 1,390 ringgit in southern and central regions.
Trades were reported at 1,392.50 to 1,390 ringgit for the south and at 1,392.50 to 1,387.50 for central. —Reuters
