Ended With Flat Node



Ended with flat node amid weak demand in export market. Malaysia palm oil exports during Mar 1-25 fell by around 1.2% compared to a month earlier on subdued demand from China, data showed. Malaysia palm oil exports fell to 896,621 tons during Mar 1-25 compared to 907,078 tons for the same period a month ago, DowJones reported citing data from Intertek, a private surveyor. Mistry expected price to test MAY 3,000 in April-May on lower stock and slow pace of recovery in production. Mistry maintains forecast that 3rd-month Bursa Malaysia Derivatives futures at MYR 2,500 per ton, or FOB olein at $620 per ton, are strong supports in the fourth quarter of 2017. Further, he maintained Malaysian 2017 production estimates at 19.5 million tons and for Indonesian output at 33.5-34 million tons. Government has cut base import prices (tariff charges) for palm products in India for the third successive fortnight making prices cheaper to import. For 2 nd half of March, the prices of CPO and RBD palm oil cut by $31 a ton to $753 and $38 a ton to $768 respectively.

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