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Asian CPO Up on Weaker Ringgit -- Market Talk

28 Feb 2018 10:36 am

1036 GMT - Malaysian palm oil futures ended Wednesday's trading session higher, as a weaker ringgit offset a fall in export demand. Malaysia's palm oil export estimates for Feb. 1-28 period are down 11% on month at 1,167,908 metric tons, cargo surveyor SGS (Malaysia) Bhd. said. Despite Wednesday's price gain, weak demand for the tropical oil will likely drag prices downwards, analysts say. The benchmark palm oil contract for May delivery ends up MYR16 at MYR2,558/ton ($651.8). (vibhuti.agarwal@wsj.com)
 

(END) Dow Jones Newswires

February 28, 2018 05:36 ET (10:36 GMT)

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