AGL 38.54 Increased By ▲ 0.97 (2.58%)
AIRLINK 129.50 Decreased By ▼ -3.00 (-2.26%)
BOP 5.61 Decreased By ▼ -0.03 (-0.53%)
CNERGY 3.86 Increased By ▲ 0.09 (2.39%)
DCL 8.73 Decreased By ▼ -0.14 (-1.58%)
DFML 41.76 Increased By ▲ 0.76 (1.85%)
DGKC 88.30 Decreased By ▼ -1.86 (-2.06%)
FCCL 35.00 Decreased By ▼ -0.08 (-0.23%)
FFBL 67.35 Increased By ▲ 0.85 (1.28%)
FFL 10.61 Increased By ▲ 0.46 (4.53%)
HUBC 108.76 Increased By ▲ 2.36 (2.22%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.75 Decreased By ▼ -0.11 (-2.26%)
KOSM 6.95 Increased By ▲ 0.10 (1.46%)
MLCF 41.65 Decreased By ▼ -0.15 (-0.36%)
NBP 59.60 Increased By ▲ 1.02 (1.74%)
OGDC 183.00 Increased By ▲ 1.75 (0.97%)
PAEL 26.25 Increased By ▲ 0.55 (2.14%)
PIBTL 5.97 Increased By ▲ 0.14 (2.4%)
PPL 146.70 Decreased By ▼ -1.70 (-1.15%)
PRL 23.61 Increased By ▲ 0.39 (1.68%)
PTC 16.56 Increased By ▲ 1.32 (8.66%)
SEARL 68.30 Decreased By ▼ -0.49 (-0.71%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.95 Decreased By ▼ -0.05 (-0.14%)
TPLP 7.85 Increased By ▲ 0.45 (6.08%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.45 Decreased By ▼ -0.40 (-0.79%)
UNITY 26.75 Increased By ▲ 0.35 (1.33%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,806 Increased By 37.8 (0.39%)
BR30 29,678 Increased By 278.1 (0.95%)
KSE100 92,304 Increased By 366.3 (0.4%)
KSE30 28,840 Increased By 96.6 (0.34%)

Malaysian crude palm oil futures closed lower on Friday, due to a decline in crude oil prices and as players took profit ahead of the weekend. Market-friendly data issued by the state-run Malaysian Palm Oil Board and cargo surveyors failed to lift prices.
The benchmark January contract on the Bursar Malaysia Derivatives exchange ended down 12 ringgit at 1,675 ringgit ($461) a tonne after trading as high as 1,696 ringgit. Open interest, which indicates the number of players in the market, was down to 83,195 lots compared with 90,054 lots on Thursday. Exports of Malaysian palm oil products for November 1-10 rose 0.8 percent to 487,580 tonnes from 483,583 tonnes during October 1-10, cargo surveyor Interlake Testing Services said.
Another cargo surveyor, Society General de Surveillance, whose data is closely watched by the industry, said exports during the period rose marginally to 451,440 tonnes.
The MPOB said stocks at the end of October fell 11.44 percent and output was down 13.03 percent. It said exports during the month jumped 9.13 percent. Oil prices fell 1 percent on Friday as dealers took profits from the previous day's surge, while the West's energy watchdog said a tighter fourth quarter would follow the biggest third-quarter stockbuild in 15 years.
US light, sweet crude for December deepened losses to stand 75 cents lower at $60.41 a barrel. Palm oil market often follows crude oil, driven by rapid growth in the global biofuel industry based on vegetable oils, which are seen as a cheaper option to fossil fuels. In the physical crude palm oil market, November shipment for the southern region was quoted at 1,645/1,650 ringgit a tonne. Trades were done between 1,650 and 1,660 ringgit a tonne.

Copyright Reuters, 2006

Comments

Comments are closed.