Mumbai, 20 May (Commoditiescontrol) Malaysian palm oil futures were trading a little higher on Monday tracking firmness in the global edible oil markets, however, weak reports from export fronts limited gains. Exports of Malaysian palm oil products for May 1 – 20 is reportedly dropped around 9.6% compared to the same period last month.
At Chicago Board of Trade, July delivery soybean and soyoil futrues contract were trading higher by 10% and 20% respectively during Asian hours.
The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives (BMD) Exchange gained 12 ringgit to 3,907 ringgit ($833.94) a metric ton by the midday break. Malaysian currency was nearly flat against US dollar before mid-day closing.
Exports of Malaysian palm oil products for May 1 – 20 fell 9.6% to 814,031 tonnes from 900,290 tonnes shipped during April 1 – 20, independent inspection company AmSpec Agri Malaysia said today.
Also, crude oil prices were trading higher in the international market today
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