KL palm oil at four-week low

KL palm oil at four-week low

KUALA LUMPUR (Reuters): Malaysian palm oil futures closed at
their lowest level in four weeks on Monday as players liquidated
positions amid market talk that production in January could be
higher than earlier projections.

The benchmark third-month April futures contract ended down 21
ringgit at 759 ringgit ($199.74) a tonne, the day's low. Volume
was 1,677 lots against 1,247 on Friday.

Physical palm oil prices also lost ground but activity was
light due to a lack of buyers.

February (south) crude palm oil was offered at 705 ringgit a
tonne against bids of 700 and trade at 705.

March (south) saw offers at 745 ringgit and bids of 735.

Among refined products, February RBD palm oil was offered at
$200 a tonne FOB and March at $207.50.

There were offers for February RBD olein at $207.50 and March
at $215.

February RBD palm stearin was offered at $190 and February
palm fatty acid distillate at $185.