Wednesday, April 1, 2009

Asia Crude Palm Oil Ends At 6-Mo High On Tight Supply, Soyoil

Crude palm oil futures on Malaysia's derivatives exchange ended sharply higher Wednesday, rising as much as 3.5% to a six-month high, on fresh support due to tight supplies of both palm oil and soyoil, said trade participants.

Read also in category "Palm market news":

The following are prices for Malaysian palm oil in the cash market at 1000 GMT Wednesday, supplied by commodity broker Matthes & Porton Bhd.

Indonesia's PT Astra Agro Lestari said in a statement it sold 4,500 metric tons of crude palm oil offered in an auction Wednesday.

Following are Indonesian physical palm oil prices quoted by traders in rupiah a kilogram.

Indonesia's PT Perkebunan Nusantara Wednesday said in a statement it sold 3,500 metric tons of crude palm oil offered in a government auction.

BMD CPO futures higher, sustain above MYR2,000/ton throughout day's trading so far on buying support, strong fundamentals.

BMD CPO futures higher midday on lower inventories, supply of major vegetable oils including both palm oil, soyoil.

BMD CPO futures higher on tight supplies, slowdown in production, traders say.

Read more on Palmoil.com homepage

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