Asian Crude Palm Oil Ends Up; Apr Exports May Touch 1.2M Tons
Crude palm oil futures on Malaysia's derivatives exchange ended higher Wednesday in volatile trade, recovering from intraday losses on expectations of steady exports this month of almost 1.20 million metric tons.
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The following are prices for Malaysian palm oil in the cash market at 1000 GMT Wednesday, supplied by commodity broker Matthes & Porton Bhd.
Following are Indonesian physical palm oil prices quoted by traders in rupiah a kilogram.
BMD CPO futures up on likely steady exports; traders expect Malaysia's palm oil exports may touch almost 1.20 million tons in April, little changed on month
Malaysia's palm oil exports in April are likely to be around 1.195 million tons, close to month-ago levels, trading and shipping executives said Wednesday.
Indonesia's PT Astra Agro Lestari Wednesday said in a statement it sold 1,000 metric tons of crude palm oil offered in an auction.
Indonesia's PT Perkebunan Nusantara Wednesday said in a statement it sold 2,500 metric tons of crude palm oil offered in a government auction.
Swine flu could be positive for palm oil prices in medium term, says UOB KayHian.
Malaysia's cash palm oil prices fall on lack of buying interest.
Despite traders putting yesterday's drop in crude palm oil (CPO) futures down to worries of impact in swine flu on demand for feed grains and oil seeds, RBS says swine flu may actually boost palm oil prices.
BMD CPO futures trading sideways; open higher, then move into negative territory as investors liquidate positions, expecting increase in oil palm harvesting this week on fair weather.
Isolated rains, thunderstorms likely amid fair weather this week, says spokesperson in Malaysian Meteorological Department.
The oil palm growing regions of southeast Asia will likely see mostly dry weather this week, according to Chicago-based meteorologist Mike Tannura.
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