Malaysia palm oil exrends fall<\/p>\n
KUALA LUMPUR (Reuters): Malaysian palm oil futures
\nrebounded by the close on Monday but stayed in negative territory
\nwith some players expecting technical correction to emerge,
\ntraders said.<\/p>\n
The benchmark November futures contract ended down 31 ringgit
\nat 1,038 ringgit (US$273.16) a ton after trading as low as 1,026
\nringgit. Volume was at 1,463 lots.<\/p>\n
\"The market had broken major support of 1,030 ringgit, but
\nrebounded after players bought back their contracts. But can it
\nsustain the rebound? That's a big question,\" said one trader in
\nKuala Lumpur.<\/p>\n
India, the world's largest edible oil importer, buys palm oil
\nfrom Malaysia and Indonesia.<\/p>\n
On Monday, cargo surveyor Societe Generale de Surveillance
\nMalaysia Sdn Bhd (SGS) said India's palm oil imports from
\nMalaysia fell to 140,336 tons in August compared with 200,906
\ntons in July.<\/p>\n
In Indonesia, traders said the country's monthly palm oil
\nexports may slow to 350,000 tons from around 500,000 tons over
\nthe coming months because of slow demand, particularly from
\nIndia.<\/p>\n
On the physical side, September crude palm oil for south
\nregion was offered at 1,045 ringgit a ton against bids at 1,035.
\nThere were trades at 1,035 to 1,040.<\/p>\n
September CPO for the central region saw offers at 1,045
\nringgit against bids of 1,040. Deals were done at 1,040 to
\n1,042.50.<\/p>\n
Among refined products, September RBD palm oil was offered at
\n$287.50 a ton and October\/November\/December at $292.50.<\/p>",
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