AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.21 Increased By ▲ 0.17 (0.13%)
BOP 6.60 Decreased By ▼ -0.07 (-1.05%)
CNERGY 4.47 Decreased By ▼ -0.04 (-0.89%)
DCL 8.58 Increased By ▲ 0.03 (0.35%)
DFML 41.83 Increased By ▲ 0.39 (0.94%)
DGKC 86.99 Increased By ▲ 0.14 (0.16%)
FCCL 32.10 Decreased By ▼ -0.18 (-0.56%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.15 Decreased By ▼ -0.10 (-0.98%)
HUBC 109.27 Decreased By ▼ -0.30 (-0.27%)
HUMNL 14.70 Increased By ▲ 0.02 (0.14%)
KEL 5.12 Increased By ▲ 0.07 (1.39%)
KOSM 7.18 Decreased By ▼ -0.28 (-3.75%)
MLCF 41.30 Decreased By ▼ -0.08 (-0.19%)
NBP 59.94 Decreased By ▼ -0.47 (-0.78%)
OGDC 194.50 Increased By ▲ 4.40 (2.31%)
PAEL 28.15 Increased By ▲ 0.32 (1.15%)
PIBTL 7.78 Decreased By ▼ -0.05 (-0.64%)
PPL 151.12 Increased By ▲ 1.06 (0.71%)
PRL 26.42 Decreased By ▼ -0.46 (-1.71%)
PTC 16.10 Increased By ▲ 0.03 (0.19%)
SEARL 78.31 Decreased By ▼ -7.69 (-8.94%)
TELE 7.46 Decreased By ▼ -0.25 (-3.24%)
TOMCL 35.40 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.15 Increased By ▲ 0.03 (0.37%)
TREET 16.00 Decreased By ▼ -0.41 (-2.5%)
TRG 52.87 Decreased By ▼ -0.42 (-0.79%)
UNITY 26.50 Increased By ▲ 0.34 (1.3%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,933 Increased By 49.4 (0.5%)
BR30 30,896 Increased By 295.7 (0.97%)
KSE100 93,877 Increased By 521.9 (0.56%)
KSE30 29,081 Increased By 150.4 (0.52%)

Malaysian palm oil futures ended off a two week high on Monday, tracking comparative vegetable oil prices higher as traders were concerned the ongoing rally might dent demand.
The benchmark April 2011 crude palm oil contract on Bursa Malaysia Derivatives ended flat at 3,748 Malaysian ringgit ($1,224) a tonne. Prices earlier in the day hit a high at 3,836 ringgit, a level not seen since January 7.
Overall, traded volume stood at 23,570 lots of 25 tonnes each compared with a total of 12,496 lots on Friday.
"The Chinese New Year sentiment is settling in and spreading through the vegetable oil complex but traders are now becoming a little cautious that the market has gone up too high," said a trader with a Malaysian brokerage.
The Lunar New Year falls in early February this year and has spurred speculative gains in China's soyaoil futures.
The most-active September 2011 soyaoil contract on the Dalian Commodity Exchange traded at a fresh peak at 10,858 yuan versus an open at 10,600 yuan. The contract later settled at 10,736 yuan.
Palm oil futures are now approaching near three-year highs at 3,905 ringgit, last touched on January 4, on concerns that seasonally heavy rains have stalled harvesting in top producers Indonesia and Malaysia.
Some traders are concerned that the high prices may slow some exports from Malaysia, the world's No.2 palm oil producer, and cargo surveyors may report slightly lower or flat export data on Tuesday.
Investors are also awaiting the imminent announcement from Indonesia on its palm oil export tax this week.
Last week, sources said the world's top palm oil producer might increase the palm oil export tax for February to 25 percent from 20 percent in January.
The export tax aims to ensure domestic needs are met in Southeast Asia's biggest economy, and to curb volatility in domestic cooking oil prices.
In related markets, US crude futures held above $89 on renewed confidence that developed economies are recovering and will boost demand for commodities.

Copyright Reuters, 2011

Comments

Comments are closed.