Palm oil futures end with pared gains

Palm oil futures end with pared gains

KUALA LUMPUR (Reuters): Malaysian palm oil futures closed with pared gains on Thursday due to a lack of follow-through support ahead of next week's holidays.

The market will be closed January 23-25 for the Chinese New Year celebration.

The benchmark third-month April futures contract ended up two ringgit at 825 ringgit (US$217.10) a ton after trading in a tight nine-ringgit range.

"Players have started unwinding their positions ahead of the holidays, so I don't think we will see big movements," said one trader in Kuala Lumpur.

Physical January (south) crude palm oil was offered at 745 ringgit a ton against bids of 740, and trade was done at 740.

February (south) was offered at 780 ringgit against bids of 770 and trade at 765 to 780.

Among refined products, February RBD palm oil was offered at $222.50 a ton FOB and March at $230.

There were offers for February RBD olein at $230 and March at $237.50.

January RBD palm stearin was offered at $195, and January palm fatty acid distillate at $180.