KUALA LUMPUR, July 2: Malaysian palm oil futures gyrated in late trade on Wednesday with the active September contract unable to sustain earlier gains due to profit-taking, traders said.

The contract had touched a low of 1,410 ringgit. Overall volume was heavy at 5,174 lots.

Influential private forecaster Ivan Wong is expected to release his latest estimates for June palm oil output, end of month stocks and exports next week.

Cargo surveyors Intertek Testing Services (ITS) and Societe Generale de Surveillance (SGS) will also issue their July 1-10 palm oil exports data next week.

Separately, brokers said palm oil freight rates to key consumers in Asia were likely to hold steady this month due to firm demand, especially from the world’s largest edible oil consumer India.—Reuters