KUALA LUMPUR, Nov 27: Malaysian crude palm oil futures ticked up smartly at the close on Wednesday after chart-driven short covering emerged over the course of the afternoon, traders said.

It closed at 1,550 ringgit ($407.89), up 11 ringgit from Tuesday’s close.

Overall volume was heavy at 3,858 lots.

He said total Malaysian exports were expected to reach 920,000 to 930,000 tons in November, down from 1.12 million in October as reported by cargo surveyor SGS.

India purchased close to 350,000 tons of palm oil from Malaysia and Indonesia in December last year, he said.

CPO for the central region was offered at 1,555 ringgit a ton against bids of 1,547.50 ringgit.

December CPO was on offer at 1,560 ringgit a ton against bids of 1,555 ringgit for south. Central crude palm oil was on offer at 1,560 ringgit against bids of 1,550 ringgit.—Reuters