Palm oil prices up

Published September 20, 2002

KUALA LUMPUR, Sept 19: Malaysia’s palm oil futures firmed across the board on Thursday due to refiners covering and talk of supportive exports number for September 1-20, traders said.

At the close, the benchmark third-month December contract was 27 ringgit higher at 1,370 ringgit ($360.53) a ton after trading as high as 1,372 ringgit.

Traders said they expected exports to reach 600,000 tons in September 1-20, higher than 580,416 tons for August 1-20. Cargo surveyors SGS and ITS are scheduled to release the exports data on Friday.

In the physical sector, September/October crude palm oil for the southern and central regions saw bids at 1,375 ringgit a ton and offers at 1,380 ringgit.

Trades were reported at between 1,360 and 1,375 ringgit for both sides.—Reuters

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