Bursa Malaysia crude palm oil futures seen weaker on export data

An aerial view of Singapore’s portAn aerial view of Singapore’s port

Crude palm oil futures on the Bursa Malaysia Derivatives exchange may ease further on Monday after weekend data showed weak exports.

On Thursday, Bursa Malaysia front-month palm oil futures for November rose 0.05 percent to 2,219 ringgit (US$540.56) a metric ton on Friday, down 0.85 percent on week, on volumes of 23,776 lots of 25 metric tons each.

Two reports at the weekend on exports could drive sentiment. Exports of Malaysian palm oil products for Aug. 1 – 25 fell 9.4 percent to 835,134 metric tons from 921,821 metric tons shipped during July 1 – 25, Intertek Testing Services said.  Meanwhile, AmSpec Agri Malaysia said palm oil products for Aug. 1 to 25 fell 9 percent to 821,485 metric tons from 902,979 metric tons shipped between July 1-25.

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