Palm | Kelapa Sawit

Palm oil futures ended marginally higher after mix trading. Benchmark July09 settled RM5 higher at 2685 after trading within 2715-2656 through out the day. Price movement was becoming narrower since couple of days ago as players cautiously waiting for new leads from the upcoming key data scheduled to release next Monday. Both private cargo surveyors ITS & SGS will release the first 10 days of May export data, while MPOB will released the April supply & demand data. Generally traders had been speculating that stock level to be around 1.25 million tones, which is somewhere between the forecast of Reuters poll and Malaysia Commodity Minister who had stated that stock level at 1.3 million tonnes and 1.2 million tonnes respectively. Daily volume continue to reduce to 16,221 contracts that changed hands.