KONTAN.CO.ID - KUALA LUMPUR. Malaysian palm oil futures reversed losses on Thursday after trading in a tight range, but the contract ended virtually unchanged, weighed down by sluggish demand and as traders booked profits. The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange gained 3 ringgit, or 0.07%, to 4,090 ringgit ($925.34) a tonne. Although production is lower, traders are concerned about demand momentum, said Paramalingam Supramaniam, director at Selangor-based brokerage Pelindung Bestari.
Palm Oil Ends Flat, Demand Concerns Weigh
KONTAN.CO.ID - KUALA LUMPUR. Malaysian palm oil futures reversed losses on Thursday after trading in a tight range, but the contract ended virtually unchanged, weighed down by sluggish demand and as traders booked profits. The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange gained 3 ringgit, or 0.07%, to 4,090 ringgit ($925.34) a tonne. Although production is lower, traders are concerned about demand momentum, said Paramalingam Supramaniam, director at Selangor-based brokerage Pelindung Bestari.