KUALA LUMPUR, Oct 25: Malaysian palm oil futures ended mostly unchanged on Thursday as the market was split between the strengthening ringgit currency and the gains in soyaoil and crude markets.The commodity, used in products ranging from confectionaries and cosmetics to biofuels, is just 3.1 per cent below last week’s record high of 2,795 ringgit.

The benchmark January contract on the Bursa Malaysia Derivatives Exchange settled down 6 ringgit at 2,707 ringgit ($807) per ton.

Traders said an expected decline in production will keep palm oil inventories low and any demand for the commodity will keep prices buoyant.

Any essential food demand for palm oil is going to significantly cut into stocks for the next few months, said an official from a local plantation firm.

In Malaysia’s physical market, crude palm oil for October and November shipments in the southern region was quoted at 2,835/2,845 ringgit a ton. Trades were unquoted at the end of the session.—Reuters