KL's palmoil eases after India ups duty

KL's palmoil eases after India ups duty

KUALA LUMPUR (Reuters): Long liquidation hit Malaysia's palm oil futures on Wednesday on prospects of a decline in exports to India after New Delhi raised the import duties on edible oils.

The benchmark third-month February KPOG1] futures contract ended down nine ringgit at 851 ringgit (US$223.94) a ton after trading as low as 844.

Market volume stood at 1,287 lots, compared with 1,630 lots at the close on Tuesday.

November (south) crude palm oil was offered at 810 ringgit a ton against bids of 800 and trade was done at 800 to 810.

November (central) crude palm oil was offered at 825 ringgit against bids of 810 ringgit. Trade was done at 800 to 810.

December (south) saw offers at 835 ringgit and bids at 825, with trade reported at 820 to 825. December (central) was offered at 835 ringgit against bids of 825. Trade was done at 820 to 825.

Among refined products, December RBD palm oil was offered at $230 a ton FOB and January at $237.50.

There were offers for December RBD palm olein at $250 and January at $257.50.

December RBD palm stearin was offered at $195 and December palm fatty acid distillate was offered at $142.50.