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October 11, 2006 Wednesday Ramazan 17, 1427





Palm oil up


BANGKOK, Oct 10: Malaysian crude palm oil futures ended higher on Tuesday, a day before the release of key data, dealers said.

The benchmark third-month December contract on the Bursa Malaysia Derivatives rose 4 ringgit to 1,558 ringgit a ton ($421.8) as 11,894 lots of 25 tons each were traded, up from Monday's 6,936.

The October contract was up 8 ringgit a ton at 1,528 ringgit and November rose 5 ringgit to 1,545. Traders said the market was likely to move between 1,540 ringgit and 1,580 rinngit on Wednesday.

The Malaysian Palm Oil Board was due to release its September palm oil stock figures on Wednesday, dealers said.

Malaysian palm oil output is estimated to have risen 2.5pc to 1.58 million tons in Sept, less than the previous poll estimate of 1.61m tons on Sept 28.—Reuters






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