Malaysia palm oil ends down

Malaysia palm oil ends down

KUALA LUMPUR (Reuters): Malaysian palm oil futures closed lower on Tuesday, extending their losses as players liquidated positions ahead of a crop report for January.

Private crop forecaster Ivan Wong is due to release on Wednesday his latest estimates for January production, export and closing stock figures, which could provide fresh clues on the domestic supply situation.

The benchmark third-month April futures contract ended down nine ringgit at 750 ringgit (US$197.37) a ton after trading as low as 746.

Volume stood at 1,963 lots against 1,677 on Monday.

Physical February (south) crude palm oil was offered at 700 ringgit a ton against bids of 690 and trade at 700 to 695.

March (south) saw offers at 735 ringgit and bids of 725. It traded from 740 to 730.

Among refined products, February RBD palm oil was offered at $197.50 a ton FOB and March at $205.

There were offers for February RBD olein at $205 and March at $210.

February RBD palm stearin was offered at $190 and February palm fatty acid distillate at $182.50.