Malaysian palm oil goes down Traders said Malaysian palm oil futures closed lower on Thursday, 25 May, 2000 after the release of more data showing continuing slack export demand. Cargo survey or Societe Generale de Surveillance Malaysia (SGS) said on Thursday Malaysia palm oil exports for May 1-25 were at 531,507 tonnes in the first 25 days of April. The benchmark third position August contract ended down 17 ringgit at 1,067 ringgit ($280.79) a tonne. Traders pegged immediate support at 1,050 ringgit and resistance at 1,080. Physical crude palm oil prices also lost ground amid a lack of demand for refined products. |
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