"KUALA LUMPUR: Malaysian palm oil futures ticked up on Tuesday as trading resumed after a long holiday weekend, with stronger rival Dalian vegetable oils underpinning the market, although low volumes of trade limited gains.
The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange rose 26 ringgit, or 0.70%, to 3,764 ringgit ($812.26) at closing, reversing losses from the previous two sessions.
Lack of participants and low volume of trade as a result of the holiday weekend will dominate the contract, said Mitesh Saiya, trading manager at Mumbai-based firm Kantilal Laxmichand & Co.
“Low production and lower exports have also made traders confused on taking positions,” Saiya said.
Exports of Malaysian palm oil products during Dec. 1-Dec. 25 were estimated to be down between 4% and 16% from the previous month, according to data from surveyors Intertek Testing Services and AmSpec Agri Malaysia. Dalian’s most-active soyoil contract rose 0.85%, while its palm oil contract was up 1.44%."
https://www.brecorder.com/news/40280625#:~:text=KUALA%20LUMPUR%3A%20Malaysian,was%20up%201.44%25.
By: via Malaysian Palm Oil Council Russia
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