AIRLINK 173.00 Decreased By ▼ -2.73 (-1.55%)
BOP 13.24 Increased By ▲ 0.12 (0.91%)
CNERGY 7.43 Decreased By ▼ -0.11 (-1.46%)
FCCL 43.63 Decreased By ▼ -0.28 (-0.64%)
FFL 14.95 Decreased By ▼ -0.06 (-0.4%)
FLYNG 26.46 Decreased By ▼ -0.44 (-1.64%)
HUBC 130.27 Increased By ▲ 0.04 (0.03%)
HUMNL 13.38 Increased By ▲ 0.04 (0.3%)
KEL 4.44 Decreased By ▼ -0.06 (-1.33%)
KOSM 6.00 Decreased By ▼ -0.06 (-0.99%)
MLCF 55.50 Decreased By ▼ -0.53 (-0.95%)
OGDC 216.00 Increased By ▲ 1.23 (0.57%)
PACE 5.95 Decreased By ▼ -0.03 (-0.5%)
PAEL 41.85 Increased By ▲ 0.95 (2.32%)
PIAHCLA 16.60 Increased By ▲ 0.28 (1.72%)
PIBTL 9.65 Decreased By ▼ -0.10 (-1.03%)
POWER 11.61 Decreased By ▼ -0.15 (-1.28%)
PPL 183.01 Increased By ▲ 1.53 (0.84%)
PRL 34.30 Increased By ▲ 0.08 (0.23%)
PTC 22.83 Decreased By ▼ -0.23 (-1%)
SEARL 94.78 Decreased By ▼ -0.94 (-0.98%)
SILK 1.16 Increased By ▲ 0.02 (1.75%)
SSGC 35.76 Increased By ▲ 0.31 (0.87%)
SYM 15.77 Increased By ▲ 0.02 (0.13%)
TELE 7.84 Decreased By ▼ -0.03 (-0.38%)
TPLP 10.92 Decreased By ▼ -0.06 (-0.55%)
TRG 60.89 Increased By ▲ 0.39 (0.64%)
WAVESAPP 10.71 Decreased By ▼ -0.10 (-0.93%)
WTL 1.33 Decreased By ▼ -0.02 (-1.48%)
YOUW 3.80 Increased By ▲ 0.03 (0.8%)
BR100 12,112 Increased By 58.5 (0.49%)
BR30 36,725 Increased By 258.1 (0.71%)
KSE100 114,383 Increased By 26.4 (0.02%)
KSE30 35,309 Decreased By -38.6 (-0.11%)

Malaysian crude palm oil futures closed lower on Wednesday, surrendering gains from the morning, as the market remained depressed over export estimates for November released a day ago. Bursar Malaysia Derivatives' third-month palm oil futures contract, February, ended six ringgit, or 0.4 percent, down at 1,419 ringgit ($373.42) a tonne. It hit an intrude high of 1,436 up 11 ringgit, or 0.8 percent, from Tuesday's close.
The low was 1,415 ringgit. The broader futures market closed 6 to 7 ringgits down.
Society Generale de Surveillance, the main surveyor of oil palm cargoes closely watched by the market, on Tuesday estimated export of Malaysian oil palm products for November at 1,095,099 tonnes, down 10.8 percent from the 1,227,363 tonnes it tracked for October.
Dealers said the market would have rallied if the November numbers had matched or exceeded October's.
Palm oil was up at Wednesday's open after soyaoil futures on the Chicago Board of Trade rose 0.18 to 0.35 cent a lb at Tuesday's close, snapping a selling streak that had persisted since on Friday.
Soya and palm compete for the same export destinations and their prices often move in step. But profit taking emerged in palm oil as the export numbers released on Tuesday weighed on sentiment.
Trade on Wednesday totalled 6,773 lots of 25 tonnes each versus on Tuesday's 6,310 lots. Physical prices of crude palm oil closed flat to lower after a slight gain the morning.
Physical oil for December saw bids/offers closing at 1,455/1,465 ringgit a tonne in Malaysia's southern and central regions, against on Tuesday's 1,460/1,465. It was quoted at 1,465/1,470 in the morning.
Deals closed at 1,460 ringgit in both regions. Physical oil for January saw buyers at 1,445 ringgit a tonne and sellers at 1,455, against on Tuesday's 1,450/1,460. Trades were reported at 1,455 ringgit.
PALM OIL FUTURES:
December (south): 1465.
Open/High/Low: 1430/1436/1415.
Previous closes: 1465.
PALM OIL PHYSICALS:
February (3rd month): 1419.
Previous settlement: 1425.
FUTURES:
Benchmark February down 6 ringgit or 0.4 percent to 1,419 ringgit ($373.42) a tonne.
PHYSICALS: December offers down 10 ringgit a tonne.

Copyright Reuters, 2004

Comments

Comments are closed.