KUALA LUMPUR, April 4: Malaysian crude palm oil futures ended slightly lower on Thursday, with sentiment stalled as the market awaited news from China on licences to import 1.6 million tons of palm oil as part of its 2002 quotas.

So far we have not heard from Beijing, said one trader. But there is still hope that the licences will be released tomorrow.

China, the world’s second largest edible oils importer, plans to buy 2.4 million tons of palm oil this year but has to say when it will issue import quotas for the first 1.6 million.

The benchmark third-month June contract ended two ringgit down at 1,155 ringgit ($303.94) a ton after falling to a low of 1,148 and a touching session high of 1,158.

Overall volume was 1,506 lots.

Traders said a firmer rupiah versus the dollar helped support prices.

The rupiah bid rose to 9,665 to the dollar in late afternoon from 9,700 earlier.

In physical trading the April contract for southern and central regions was offered at 1,150 ringgit a ton against bids of 1,145. Deals were reported at 1,145 ringgit.

The May contract for south was at 1,150/1,160 ringgit but no deals were done.—Reuters