Crude Palm oil futures on Malaysia’s derivatives exchange end down tracking
declines in rival CBOT soyoil markets and as investors refrain from aggressive
bets ahead of a slew of industry data due next week.
Palm oil remains biased to the downside in the coming weeks as "very soon
palm oil production will start to rise again in Malaysia [from April] and drive
up stock levels," a Kuala Lumpur-based broker says.
Industry regulator MPOB will issue March stocks and production data
Wednesday. Market participants say March output was probably flat at 1.29
million-1.30 million tons and inventories in the world's no. 2 producer likely
eased between 5% and 9% to around 2.21 million tons-2.31 million tons as exports
rose to 1.41 million tons.
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