KUALA LUMPUR: Malaysian palm oil futures edged down on Tuesday as traders took profits after a rally the day before and after Indonesia kept its palm oil export tax at zero for April.
By Tuesday’s close the benchmark June contract on Bursa Malaysia Derivatives was down 1.19 per cent at 2,165 ringgit ($585) a tonne.
Total traded volume stood at 35,441 lots of 25 tonnes, just above the daily average of 35,000 lots traded.
Exports of Malaysian palm oil products in March rose 21.4pc to 1.16 million tonnes from 953,053 tonnes shipped in February, cargo surveyor Intertek Testing Services said on Tuesday.
According to cargo surveyor Societe Generale de Surveillance, Malaysian palm oil exports over the same period rose 14.8pc to 1,140,355 tonnes from 993,376 tonnes shipped during February.
Published in Dawn, April 1st, 2015
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