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KUALA LUMPUR, Dec 20: Malaysian palm oil prices ended lower on Thursday following a decline in exports for the first 20 days of December, traders said.
Third-month March ended 28 ringgit lower at 1,160 ringgit ($305.26) a ton after cargo surveyor Societe Generale de Surveillance (SGS) put December 1-20 exports at 578,143 tons, down from 721,512 for November 1-20.
Traders said the drop in shipments was expected given the many holidays in December.
With only a week of trading to go before New Year, buyers also appeared unwilling to commit, said dealers.
December crude palm oil (CPO) was offered at 1,115 ringgit a ton against bids of 1,110 in the southern region. Central December CPO was asked/bid at 1,120/1,110 and traded at 1,120.
January CPO for south and central was offered at 1,135 ringgit against bids at 1,130. It traded at 1,140 to 1,135 in both regions.
LONDON: The palm oil sector slipped around $2.50 to $7.50 per ton after the release of weak Malaysian palm export data, traders said.
Cargo surveyor Societe Generale de Surveillance (SGS) put December 1-20 exports at 578,143 tons, down from 721,512 for November 1-20.
Business remained quiet and was only reported to have taken place on palm olein at $322.50 per ton for Dec, $325 for Jan and $345 for Jul/Dec.
The soft oils posted gains of two to 10 euros per ton on the back of reports of active Chinese interest in buying soyaoil. No trade was reported in Europe, though.—Reuters
