February 02, 2007	Friday	Muharram 13, 1428

JAKARTA, Feb 1: Indonesian palm oil prices rose slightly in thin trade on Thursday while the overall market remained weak due to a lack of fresh news.

Crude palm oil at the state marketing centre's auction, which sells palm oil from state plantations, sold at 5,268 rupiah ($0.580) a kg, free on board Belawan, up from 5,239 rupiah on Wednesday.

There was no auction in North Sumatra's Medan as sellers held back stocks due to the absence of guidelines.

Malaysia is on holiday today, sellers were on the sidelines waiting for new price leads, a Medan trader said.

The Malaysian market was closed on Thursday for a government holiday and a religious festival.

In Jakarta, cooking oil traded at between 5,740 and 5,750 rupiah per kg, against 5,725-5,735 rupiah on Wednesday.

The market was weak, but prices managed to rise a bit in the morning session tracking an increase in the Malaysian market yesterday, a Jakarta trader said.

Crude palm oil for February and March shipments was offered at $542.5 a ton, free on board Belawan. Buyers bid $535.

Traders said January palm oil exports might go below one million tons due to slow overseas demand.—Reuters