August 04, 2006	Friday	Rajab 8, 1427

KUALA LUMPUR, Aug 3: Malaysian crude palm oil futures ended marginally lower on Thursday because of profit-taking, traders said.

There is no news to move the market at the moment, people are taking profit, said one dealer.

Market finished the morning session higher because of firm soyaoil prices and strong demand. The undertone is still positive, stocks are going to fall because of higher exports and lower output, another trader said.

Traders said the market was awaiting July export and production numbers to be announced by the state-run Malaysian Palm Oil Board on August 10.

The benchmark third-month October contract on the Bursa Malaysia Derivatives closed down two ringgit at 1,641 ringgit ($446) a ton.

Societe Generale de Surveillance, a cargo surveyor closely watched by the market, said this week exports of Malaysian palm products in July rose 11.8 per cent from a month earlier.

Palm oil output in Malaysia is estimated to fall 2.1 per cent to 1.3 million tons in July, a Reuters poll last week showed. Traders said dry weather in peninsular Malaysia had hit production.

In the physical market, crude palm oil for August shipment saw sellers at 1,615 ringgit a ton and bids at 1,610. Trades were done at 1,615 to 1,630 ringgit a ton.—Reuters