Palm oil mixed

Published January 10, 2007

KUALA LUMPUR, Jan 9: Malaysian crude palm oil futures closed mixed on Tuesday as players awaited crucial December production and stocks data to be issued by industry regulator Malaysian Palm Oil Board on Wednesday.

The Malaysian palm oil market has been volatile in the past few weeks due to concern about the weather. Prices jumped as much as 10pc in the last two weeks of December as floods swamped the key southern palm-growing region.

Malaysian palm oil stocks fell 16 per cent at the end December as production declined sharply after floods inundated plantations across the key southern growing region, a Reuters poll showed on Tuesday.

In the physical crude palm oil market, January shipment in the southern region was quoted at 1,930/1,940 ringgit a ton.

—Reuters