Dawn News

Palm oil futures down

SINGAPORE, April 26: Malaysian palm oil futures slipped on Thursday.

Benchmark July palm oil futures on the Bursa Malaysia Derivatives Exchange fell 0.3 per cent to close at 3,500 ringgit ($1,146) per ton. Traded volumes stood at 29,661 lots of 25 tons each, higher than the usual 25,000 lots.

Malaysian palm oil exports for the first 25 days of the month dropped a slight 2 and 3 per cent.

Despite the fall, market players see the numbers as an improvement compared to the 5 per cent decline seen in the first 20 days of the month. Traders said that demand from China and India has been picking up.—Reuters

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