Malaysia palm stagnant

Malaysia palm stagnant

KUALA LUMPUR (Reuters): Malaysian palm oil futures ended little changed and barely traded on Tuesday on fears that India might again raise import taxes for edible oils, traders said.

Analysts in India said three tax rises since last year have failed to stem a flood of cheap oil imports and it was unlikely a fourth round would take place.

Volume for Tuesday was 918 lots of 25 tonnes each -- one of the lowest in recent times.

But towards the close benchmark May futures pulled back from a low of 748 ringgit to end two ringgit up at 759 ($200) a tonne.

Physical March (south and central) was offered at 717.50 ringgit a tonne, down from 725 on Monday. Bids came in at 715 and trades were closed at 710, 712.50 and 715.

April physical was offered at 750 with bids at 742.50. But no business was reported.

For closing table of Malaysian physical palm oil prices, double click on or type OILS/MY01 and press enter.