AGL 38.20 Increased By ▲ 0.05 (0.13%)
AIRLINK 129.30 Increased By ▲ 4.23 (3.38%)
BOP 7.85 Increased By ▲ 1.00 (14.6%)
CNERGY 4.66 Increased By ▲ 0.21 (4.72%)
DCL 8.35 Increased By ▲ 0.44 (5.56%)
DFML 38.86 Increased By ▲ 1.52 (4.07%)
DGKC 82.20 Increased By ▲ 4.43 (5.7%)
FCCL 33.64 Increased By ▲ 3.06 (10.01%)
FFBL 75.75 Increased By ▲ 6.89 (10.01%)
FFL 12.83 Increased By ▲ 0.97 (8.18%)
HUBC 110.72 Increased By ▲ 6.22 (5.95%)
HUMNL 14.03 Increased By ▲ 0.54 (4%)
KEL 5.22 Increased By ▲ 0.57 (12.26%)
KOSM 7.69 Increased By ▲ 0.52 (7.25%)
MLCF 40.08 Increased By ▲ 3.64 (9.99%)
NBP 72.51 Increased By ▲ 6.59 (10%)
OGDC 189.18 Increased By ▲ 9.65 (5.38%)
PAEL 25.74 Increased By ▲ 1.31 (5.36%)
PIBTL 7.38 Increased By ▲ 0.23 (3.22%)
PPL 153.45 Increased By ▲ 9.75 (6.78%)
PRL 25.52 Increased By ▲ 1.20 (4.93%)
PTC 17.92 Increased By ▲ 1.52 (9.27%)
SEARL 82.50 Increased By ▲ 3.93 (5%)
TELE 7.63 Increased By ▲ 0.41 (5.68%)
TOMCL 32.50 Increased By ▲ 0.53 (1.66%)
TPLP 8.48 Increased By ▲ 0.35 (4.31%)
TREET 16.77 Increased By ▲ 0.64 (3.97%)
TRG 56.00 Increased By ▲ 1.34 (2.45%)
UNITY 28.68 Increased By ▲ 1.18 (4.29%)
WTL 1.34 Increased By ▲ 0.05 (3.88%)
BR100 10,684 Increased By 595 (5.9%)
BR30 31,445 Increased By 1935.9 (6.56%)
KSE100 99,269 Increased By 4695.1 (4.96%)
KSE30 31,032 Increased By 1587.6 (5.39%)

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.