Crude palm oil futures on Malaysia’s derivatives exchange ended up Wednesday, but gains were trimmed amid expectations that palm oil exports for December may be 15%-16% lower on month, trade participants said.
The benchmark March contract on the Bursa Malaysia Derivatives ended MYR5 higher at MYR2,595 a metric ton, after reaching an intraday high of MYR2,609, tracking modest gains on crude oil futures during Asian trading hours.
At 1000 GMT, light, sweet crude for February delivery on the New York Mercantile Exchange was trading 6 cents higher at $78.93 a barrel.
Traders said that Malaysia's palm oil exports in December may be 200,000 tons lower than November's 1.42 million-1.46 million tons.
No comments:
Post a Comment