KUALA LUMPUR, Aug 30: Malaysian crude palm oil futures rose marginally on Wednesday, lifted by fresh buying interest after four straight days of decline. The market is likely to go for a rebound, buyers are covering after a big fall in prices, said one dealer. By the midday break, the benchmark third-month November crude palm oil contract on the Bursa Malaysia Derivatives market was up five ringgit at 1,562 ringgit ($425) a ton.
Other traded months gained between two and four ringgit. Volumes stood at 2,884 lots of 25 tons each.
Exports of Malaysian oil palm products for August 1-25 stood at 1,119,785 tons, up 15.6 per cent from the 968,714 tons shipped during the first 25 days of July, cargo surveyor Intertek Testing Services said.
In the physical crude palm oil market, sellers were quoting 1,550 ringgit a ton for September shipment and buyers 1,545 ringgit.—Reuters
