Malaysia's palm oil higher

Malaysia's palm oil higher

KUALA LUMPUR (Reuters): Malaysia's palm oil futures ended mostly higher on Friday on pre-weekend covering, but traders said such gains were artificial because of uncertainties in future trends.

The benchmark third-month March futures contract rose 10 ringgit to 759 ringgit (US$199.73) a ton on volume of 1,244 lots, down from 1,911 lots at the close on Thursday.

Physical January (south) crude palm oil was offered at 705 ringgit a ton against bids of 700. Trade was done at 695 to 700.

January (central) crude palm oil was offered at 720 ringgit a ton against bids of 710, and trade was done at 695 to 710.

Physical February (south) crude palm oil was offered at 740 against bids of 730. Trade was reported at 735. February (central) crude palm oil was offered at 740 ringgit against bids of 735, and trade was done at 735.

Among refined products, January RBD palm oil was offered at $200 a ton FOB and February at $207.50.

There were offers for January RBD olein at $207.50 and February at $215.

January RBD palm stearin was offered at $180 and January palm fatty acid distillate at $162.50