VEGOILS-Palm near one-month low as other edible oils drop
* Palm falls to near one-month low of 2,104 rgt/T
* Market also bearish on end-stocks outlook - trader
* Palm down 3.3 pct on-week
(Updates with closing prices)
By Emily Chow
KUALA LUMPUR, April 26 (Reuters) - Malaysian palm oil
futures fell more than 2 percent during their second half of
trade on Friday to their lowest in nearly a month, weighed down
by weaker related edible oils.
Expectations of only a slight drop in April inventory levels
also contributed to the bearish market sentiment, traders said.
The benchmark palm oil contract for July delivery
on the Bursa Malaysia Derivatives Exchange was down 1.8 percent
at 2,118 ringgit ($512.71) a tonne at the close of trade, its
sharpest daily decline in two weeks.
It earlier fell to a low of 2,104 ringgit, its weakest level
since April 1, and is also down 3.3 percent for the week.
"Continuous weakness in palm's rival oilseed soy and China's
palm olein is likely to spill over and pressure palm today,"
said a Kuala Lumpur-based trader, referring to soyoil on the
U.S. Chicago Board of Trade and palm olein on China's Dalian
Commodity Exchange.
Palm oil prices are affected by movements in soyoil, as they
compete for a share in the global vegetable oil market.
Another trader added that Malaysia's April end-stocks are
forecast to only slightly fall on the back of marginal gains in
exports, adding to bearish market sentiment.
Malaysian palm oil exports rose between 1.4 percent and 8.9
percent during April 1-25 versus the corresponding period last
month, according to data from three cargo surveyors on Thursday.
In other related oils, the Chicago May soybean oil contract
fell 1 percent on Thursday, and was last down 0.7
percent.
Soybeans had remained on course for a weekly drop as top
South American producers, Brazil and Argentina, push their
freshly-harvested bumper crops into the market.
Meanwhile, the May soyoil contract on the Dalian Commodity
Exchange fell 1.7 percent, and the Dalian May palm oil
contract declined 2.2 percent.
Palm, soy and crude oil prices at 1108 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY9 2022 -37.00 2011 2024 157
MY PALM OIL JUN9 2093 -37.00 2079 2110 4069
MY PALM OIL JUL9 2119 -39.00 2104 2137 19830
CHINA PALM OLEIN MAY9 4224 -94.00 4214 4324 25162
CHINA SOYOIL MAY9 5190 -92.00 5160 5282 32574
CBOT SOY OIL MAY9 27.46 -0.18 27.44 27.64 3137
INDIA PALM OIL APR9 534.00 -4.60 534.00 536.8 565
INDIA SOYOIL MAY9 738.95 -6.15 738.7 746.25 8040
NYMEX CRUDE JUN9 64.06 -1.15 63.85 65.18 184813
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel
* For a table on Malaysian physical palm oil prices,
including refined oil, Reuters Terminal users can double click
on or type.
* To view freight rates from Peninsula Malaysia/Sumatra to
China, India, Pakistan and Rotterdam, please key in
and press enter, or double click between the brackets.
* Reuters Terminal users can see cash and futures edible oil
prices by double clicking on the codes in the brackets: To go to
the next page in the same chain, hit F12. To go back, hit F11.
Vegetable oils --
Malaysian palm oil exports --
CBOT soyoil futures --
CBOT soybean futures --
Indian solvent --
Weekly Indian vegetable oils --
Dalian Commodity Exchange --
Dalian soyoil futures --
Dalian refined palm oil futures --
Zhengzhou rapeseed oil --
European edible oil prices/trades --
($1 = 4.1310 ringgit)
($1 = 70.0000 Indian rupees)
($1 = 6.7348 Chinese yuan)
(Reporting by Emily Chow; Editing by Subhranshu Sahu and Rashmi
Aich; Editing by Elaine Hardcastle)