Malaysian palmoil rebounds

Malaysian palmoil rebounds

KUALA LUMPUR (Reuters): Malaysia's palm oil futures rebounded by the close on Tuesday on the back of short covering ahead of the January export figures.

The benchmark third-month April futures contract was up three ringgit at 784 ringgit ($206.32) a ton after trading as low as 765 ringgit on the back of persistent weakness at the Chicago Board of Trade (CBOT).

Volume was 1,522 lots

Physical February (south and central) crude palm oil was offered at 720 ringgit a tonne against bids of 715 and trade was done at 705 to 715 for south. Central region saw deals at 710 to 715.

March (south) crude palm oil was offered at 765 against bids of 750, and trade was reported at 750. March (central) crude palm oil was offered at 770 against bids of 755 and business was done at 755.

Among refined products, February RBD palm oil was offered at $207.50 a tonne FOB and March at $215.

There were offers for February RBD olein at $215 and March at $222.50.

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