Malaysia palmoil futures ends lower

Malaysia palmoil futures ends lower

KUALA LUMPUR (Reuters): Malaysia's palm oil futures closed
lower on Wednesday due to poor export figures and prospects of
high production in January, traders said.

The benchmark third-month April futures contract was down four
ringgit at 780 ringgit ($205.26) a ton after trading as high as
790 ringgit on overnight rises at the Chicago Board of Trade
(CBOT).

Volume was 1,686 lots.

"There's no clear direction and the market was only moving in
a range of 750 to 800 ringgit. There's nothing much to talk about
on the local front and people are craving for fresh leads," said
one trader in Kuala Lumpur.

Cargo surveyor Societe Generale de Surveillance Malaysia Sdn
Bhd (SGS) said Malaysian palm oil exports in January dropped to
835,347 tons against 969,564 in December.

SGS said it estimated exports from the shipments of 233,924
tons of RBD palm oil, 271,558 tons of RBD palm olein and 63,612
tons of RBD palm stearin, which it tracked during the period.

Other palm oil products accounted for 266,253 tons to make up
the balance of the export figure, it said.

Physical February (south) crude palm oil was offered at 720
ringgit a ton against bids of 715 and trade was done at 715 to
720.

Physical February (central) crude palm oil saw offers at 725
ringgit a ton against bids of 717.50 and deal was done at 715 to
720.

March (south and central) crude palm oil saw offers at 760
against bids of 755, and trade was reported at 755 to 760 for
both regions.

Among refined products, February RBD palm oil was offered at
$205 a ton FOB and March at $212.50.

There were offers for February RBD olein at $212.50 and March
at $220.

February RBD palm stearin was offered at $195 and February
palm fatty acid distillate at $185.