AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

Malaysian crude palm oil futures fell almost 4 percent on Thursday as investors booked profit after this week's strong gains. But renewed fears of tight edible oil supplies following a strike by farmers in Argentina and the prospect of rising demand limited losses in the palm oil market at the close.
"The market was a bit overdone yesterday, so people are taking profit," said a dealer with a domestic brokerage. "But supply and demand fundamentals are still bullish, everyone is expecting Chinese buying to start soon."
The benchmark June contract on the Bursa Malaysia Derivatives Exchange fell as much as 145 ringgit to 3,555 ringgit ($1,109) a tonne before settling down 60 ringgit at 3,640 ringgit.
Dalian soyoil futures most traded September contract fell 2.7 percent and Chicago Board of Trade soybean oil was also down in trading during Asian hours. Palm oil staged a come-back this week as edible oil producing countries from Argentina to Indonesia raised export taxes while consuming nations such as India slashed import duties.
But on Thursday, other traded months on Malaysian derivatives exchange fell between 64 and 165 ringgit. Overall trade stood at 9,266 lots of 25 tonnes each. US soybean futures on the Chicago Board of Trade climbed the 50-cent limit on Wednesday, the third day this week, lifted by the weakness in the dollar and prospects for more export business due to the Argentine farmers' strike.
Demonstrators for and against a two-week farm strike scuffled in Argentina's capital on Wednesday as a conflict over soy export taxes ballooned into a major crisis for President Cristina Fernandez.
Cargo surveyor Intertek Testing Services said Malaysian palm oil exports rose 10.2 percent to 1,006,100 tonnes for March 1-25, while Societe Generale de Surveillance reported a 14.8 percent jump to 1,037,210 tonnes. In Malaysia's physical market, crude palm oil for March shipment in the southern region was quoted at 3,560/3,570 ringgit a tonne. Trades were done between 3,550 and 3,570 ringgit.

Copyright Reuters, 2008

Comments

Comments are closed.