Malaysian palm oil ends slightly down<\/p>\n
KUALA LUMPUR (Reuter): Malaysian palm oil prices closed
\nslightly lower yesterday after drifting in tight ranges due to
\nplayers' uncertainties over the market trend, traders said.<\/p>\n
\"There was little price movement in the afternoon. People are
\nnot sure of the market direction and decided to stay away,\" a
\ndealer said.<\/p>\n
He added that reports from Indonesia saying that 16,000 tons
\nof crude palm oil are scheduled to leave for Malaysia on Friday
\nkept most local players cautious.<\/p>\n
Traders in Kuala Lumpur said they are unsure if the shipments
\nwill actually come in.<\/p>\n
\"If it's true, then prices are going to fall and we see third
\nmonth September futures testing new lows,\" a dealer in Kuala
\nLumpur said.<\/p>\n
\"We are still uncertain about everything as well as the
\nimmediate trend and decided to stay put and refrain from taking
\nup new positions,\" the dealer said.<\/p>\n
Futures price movements were locked in an eight-ringgit range,
\nthey said. Small falls were scored among all futures contracts.<\/p>\n
At the close, the September futures contract closed one
\nringgit down at 1,033 ringgit (US$414.50) a ton after trading in
\na seven-ringgit range.<\/p>\n
\"I think the market is consolidating and people are taking a
\nbreather after the volatility in recent days,\" another dealer
\nsaid. Turnover fell to 1,169 lots from 2,281 lots on Monday.<\/p>\n
Uncertainty about the fundamental outlook also limited
\nactivity, they said. \"People are still concerned about the
\nincreasing domestic stock level if demand is not coming in and
\noutput rises due to the seasonal peak period,\" a dealer said.<\/p>\n
The physical sector saw business confined to nearby CPOs and
\nselected oils.<\/p>\n
In physicals, July (south) crude palm oil was offered at 1,060
\nringgit after trading from at 1,062.50 and 1,060. July (central)
\nsaw offers at 1,025 and July (north) at 1,020.<\/p>\n
August (north) crude palm oil was offered at 1,060 ringgit
\nwith early business transacted at 1,062.50 and 1,050. August
\n(central) saw offers at 1,045 ringgit and Sept (south) at 1,060
\nringgit.<\/p>\n
In refined products, July RBD palmoil was offered at $452.50 a
\nton FOB Malaysia, Aug at $450 and Sept $450. July was traded at
\n$450.<\/p>\n
Aug RBD palm olein was offered at $487.50, Sept at $485 and
\nOct\/Nov\/Dec at $485. August was traded at $485 and Sept at $485
\nand $482.50.<\/p>\n
July\/Aug\/Sept RBD palm stearin was offered at $330 while
\nJuly\/Aug palm fatty acid distillate saw sellers at $290.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/malaysian-palm-oil-ends-slightly-down-1447893297",
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