Palm oil futures end day lower

Palm oil futures end day lower

KUALA LUMPUR (Reuters): Malaysian palm oil ended mostly lower
in directionless trade, with poor export figures putting more
pressure on an already bearish market, traders said on Monday.

The market will be closed on Tuesday for Labour Day and will
re-open on Wednesday.

"It's all quiet and the product market did not move much
either because people's minds were already on the holiday," said
one trader in Kuala Lumpur.

Benchmark third-month July was down six ringgit at 766 ringgit
($201.58) a tonne. Volume was 717 lots.

Cargo surveyor cargo surveyor Societe Generale de Surveillance
Malaysia (SGS) said Malaysian palm oil exports in April fell to
943,507 tons from 1,049,403 in March,

Separately, Malaysia's Primary Industries Minister Lim Keng
Yaik said Malaysia and Indonesia had urged China to release its
second batch of palm oil import quotas for this year soon to ease
pressure on the market.

China's palm oil import quota is set to reach 1.5 million when
the country joins the World Trade Organization (WTO), expected in
2001.

May crude palm oil (CPO) for the southern region was offered
at 750 ringgit a ton against bids at 745. Trades were done at
750.

May CPO (central) was offered at 745 ringgit a ton against
bids at 740 and trades reported at 742.50 to 745.

June crude palm oil (CPO) for the southern and central regions
was offered at 765 ringgit a ton against bids of 760 and trade
was reported at 760 for both regions.