Malaysian palmoil ends flat

Malaysian palmoil ends flat

KUALA LUMPUR (Reuters): Malaysia's palm oil futures closed mostly flat on Thursday as players waited for fresh direction, traders said.

"The market tried to hold because players believe the 800 ringgit support level will stay. There's also persistent talk that China will enter the market to buy more oil," said one trader in Kuala Lumpur.

At the close, the benchmark third-month September contract was down one ringgit at 814 ringgit (US$214.21) a ton, after trading as high as 822 ringgit.

Volume was at 894 lots, down from 1,152 on Wednesday.

In the physical sector, June/July crude palm oil (CPO) for the southern and central regions was offered at 815 ringgit a ton against bids at 810. Trades were done at 810 for both sides.

Among refined products, July RBD palm oil was offered at $232.50 a ton FOB and August at $235.

There were offers for July RBD olein at $247.50 and August at $250. July RBD palm stearin was offered at $185 and July palm fatty acid distillate was offered at $150.