SINGAPORE, Aug 12: Malaysia’s palm oil futures recouped early losses to end higher on Friday as dealers covered positions due to persistent worries about supply. The third-month October crude palm oil contract on Bursa Malaysia Derivatives last traded at 1,378 ringgit ($367.47) a ton, having risen to a three-week high at 1,410.
That compared with Thursday’s close of 1,367 ringgit.
Overall volume was moderate at 3,152 lots.
Malaysian exports of oil palm products for August 1-10 rose 18.5 per cent to 391,214 tons from 330,050 for July 1-10, cargo surveyor Societe Generale de Surveillance said.
In the physical sector, August Malaysian crude palm oil was offered at 1,365 ringgit a ton against bids at 1,360 ringgit in the southern and central regions.
Deals were done at 1,355 to 1,360 ringgit.
September (south and central) saw bids at 1,370 ringgit against offers at 1,380.
Trade was reported at 1,365 to 1,370 in the southern region only.—Reuters
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