{
    "success": true,
    "data": {
        "id": 1434304,
        "msgid": "kl-palm-oil-prices-mostly-down-1447893297",
        "date": "1999-10-23 00:00:00",
        "title": "KL palm oil prices mostly down",
        "author": null,
        "source": "REUTERS",
        "tags": null,
        "topic": null,
        "summary": "KL palm oil prices mostly down KUALA LUMPUR (Reuters): Malaysian palm oil prices ended the week lower, continuing their downward trend on weak sentiment despite some earlier firmness. Traders said underlying poor fundamentals continued to dampen market sentiment. \"There were some recoveries earlier but prices fell back towards the close as local fundamentals are not encouraging,\" said a trader. He said trade was cautious as players preferred not to commit themselves ahead of the weekend.",
        "content": "<p>KL palm oil prices mostly down<\/p>\n<p>KUALA LUMPUR (Reuters): Malaysian palm oil prices ended the<br>\nweek lower, continuing their downward trend on weak sentiment<br>\ndespite some earlier firmness.<\/p>\n<p>Traders said underlying poor fundamentals continued to dampen<br>\nmarket sentiment.<\/p>\n<p>\"There were some recoveries earlier but prices fell back<br>\ntowards the close as local fundamentals are not encouraging,\"<br>\nsaid a trader.<\/p>\n<p>He said trade was cautious as players preferred not to commit<br>\nthemselves ahead of the weekend. \"The October crop data released<br>\nby Ivan yesterday was bearish and judging from there, we are<br>\ncertain that the downward trend is intact,\" the trader said.<\/p>\n<p>Private crop forecaster Ivan Wong said on Thursday that<br>\nMalaysia's palm oil production was estimated to be 1.01 million<br>\ntons in October against September's 1.04 million tons.<\/p>\n<p>But he projected end-October stocks at 1.34 million tons<br>\ncompared with 1.21 million tons at end-September.<\/p>\n<p>The third month January futures contract ended six ringgit<br>\ndown at 1,185 ringgit (US$311.84) a ton. Traders pegged immediate<br>\nsupport level at 1,180 ringgit.<\/p>\n<p>Traders said the market was also watching movements of the<br>\nIndonesian rupiah currency following the country's presidential<br>\nelections.<\/p>\n<p>Lack of products demand also affected activity in the physical<br>\nsector, traders said.<\/p>\n<p>Oct (south) crude palm oil was offered at 1,210 ringgit<br>\nagainst bids of 1,205.<\/p>\n<p>Among refined products, Nov and Dec RBD palm oil were offered<br>\nat $337.50 a ton FOB, and Jan\/Feb\/Mar at $342.50.<\/p>\n<p>Nov and Dec RBD palm olein saw offers at $365, and Jan\/Feb\/Mar<br>\nat $370.<\/p>\n<p>Nov RBD palm stearin was offered at $275 and Dec at $280, and<br>\nNov palm fatty acid distillate at $215.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/kl-palm-oil-prices-mostly-down-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}