AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.40 Increased By ▲ 0.36 (0.28%)
BOP 6.60 Decreased By ▼ -0.07 (-1.05%)
CNERGY 4.46 Decreased By ▼ -0.05 (-1.11%)
DCL 8.60 Increased By ▲ 0.05 (0.58%)
DFML 41.82 Increased By ▲ 0.38 (0.92%)
DGKC 86.99 Increased By ▲ 0.14 (0.16%)
FCCL 32.17 Decreased By ▼ -0.11 (-0.34%)
FFBL 64.75 Decreased By ▼ -0.05 (-0.08%)
FFL 10.15 Decreased By ▼ -0.10 (-0.98%)
HUBC 109.31 Decreased By ▼ -0.26 (-0.24%)
HUMNL 14.66 Decreased By ▼ -0.02 (-0.14%)
KEL 5.11 Increased By ▲ 0.06 (1.19%)
KOSM 7.20 Decreased By ▼ -0.26 (-3.49%)
MLCF 41.25 Decreased By ▼ -0.13 (-0.31%)
NBP 59.95 Decreased By ▼ -0.46 (-0.76%)
OGDC 195.00 Increased By ▲ 4.90 (2.58%)
PAEL 28.14 Increased By ▲ 0.31 (1.11%)
PIBTL 7.76 Decreased By ▼ -0.07 (-0.89%)
PPL 151.59 Increased By ▲ 1.53 (1.02%)
PRL 26.50 Decreased By ▼ -0.38 (-1.41%)
PTC 16.00 Decreased By ▼ -0.07 (-0.44%)
SEARL 78.16 Decreased By ▼ -7.84 (-9.12%)
TELE 7.47 Decreased By ▼ -0.24 (-3.11%)
TOMCL 35.47 Increased By ▲ 0.06 (0.17%)
TPLP 8.20 Increased By ▲ 0.08 (0.99%)
TREET 16.00 Decreased By ▼ -0.41 (-2.5%)
TRG 52.80 Decreased By ▼ -0.49 (-0.92%)
UNITY 26.55 Increased By ▲ 0.39 (1.49%)
WTL 1.25 Decreased By ▼ -0.01 (-0.79%)
BR100 9,933 Increased By 49.4 (0.5%)
BR30 30,896 Increased By 295.7 (0.97%)
KSE100 93,891 Increased By 535.3 (0.57%)
KSE30 29,090 Increased By 158.9 (0.55%)

Indonesian palm oil prices eased on Tuesday in line with weakening Malaysian crude palm oil futures as buyers retreated to the sidelines to see if the fall would continue. The state marketing centre in Jakarta, which sells palm oil from state plantations, failed to sell 2,500 tonnes of crude palm oil due to low bids.
But in North Sumatra's Medan, the leading port for palm oil export, high-grade super crude palm sold at a local auction at 6,585 rupiah ($0.723) a kg, with 400 tonnes changing hands. On Tuesday, regular crude palm oil sold at 6,590 rupiah.
"Prices are down because Malaysia crude palm oil is down. There's no other factor," said a trader in Medan. "But most buyers are in wait-and-see mode. Refiners don't want to buy crude palm oil at higher prices now but then are unable to sell olein as prices drop the next day," he added.
Malaysian crude palm oil futures fell on Wednesday on lower prices of rival soybean oil and expectations of higher stocks. Malaysia losses also pushed down cooking oil prices. In Jakarta, non-branded cooking oil which is widely consumed by low-to-middle income groups was quoted at about 7,100 rupiah a kg, down from 7,220 rupiah on Tuesday.
"When prices fall, buyers are on the sidelines, waiting for prices to fall further," said a cooking oil trader in Jakarta. On the export market, a few deals were done for October-December shipment at $680 a tonne, free on board Belawan. But there was no information on quantity and buyers.
For prompt shipment in July, sellers offered crude palm oil at $720 a tonne, free on board Belawan. Buyers bid at $712.5 without any deals reported. August shipments were offered at $710 and bid at $700. No deals were reported.

Copyright Reuters, 2007

Comments

Comments are closed.