KUALA LUMPUR, Nov 15: Malaysia’s crude palm oil futures ended firmer on Friday, boosted by short covering and talk of better demand from India, the world’s largest edible oil consumer.

Traders in India said edible imports in 2002/03 (Nov-Oct) could rise to about 5.3 million tons from 4.43 million in the crop year to October due to an expected drop in oilseed output after poor monsoon rains earlier this year.

By the close, the benchmark third-month January contract was 30 ringgit higher at 1,593 ringgit ($419.21) a ton after trading as high as 1,595 ringgit.

Overall volume was heavy at 4,904 lots.

On the physical market, crude palm oil for November saw bids at 1,585 ringgit a ton against sellers’ offers of 1,595 ringgit for southern and central regions.

Deals were reported at 1,580 to 1,585 ringgit for south and at 1,575 to 1,585 for central.

December CPO was on offer at 1,600 ringgit against bids of 1,590. Deals were reported at 1,580 to 1,590 for south and at 1,585 for central.—Reuters