Malaysian palm oil jumps

Tue, 17 Jul 2001 | Source: REUTERS

KUALA LUMPUR (Reuters): Malaysian palm oil futures ended mostly higher on renewed speculative buying despite weak export figures for the first 15 days of June, traders said.

The new benchmark third-month October contract ended up 39 ringgit at 1,114 ringgit ($293.16) a ton after trading as high as 1,128 ringgit. Volume was heavy at 2,885 lots..

Crude palmoil imports slipped to 58,170 tons from 70,213, while imports of crude soyoil surged to 151,800 tons from 66,000.

Physical July/August crude palm oil for the southern and central regions was offered at 1,110 ringgit a ton against bids of 1,100. Deals were done at 1,105 to 1,100 ringgit.

Among refined products, July RBD palm oil was offered at $310 and August at 312.50. There were offers for July RBD olein at $330 and August at 332.50.

July RBD palm stearin was offered at $235 and July palm fatty acid distillate at $197.50.

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