Malaysian palm oil futures were trading above MYR 3,750 per ton, rising for the third session in a row while hovering at two-week highs, amid weaker ringgit and higher exports. Shipments of Malaysian palm oil products for October 1-15 rose 7.3% to 623,245 metric tons from 580,893 metric tons shipped during September 1-15, according to cargo surveyor Intertek Testing Services. Meantime, demand from China continued to improve in the wake of the Golden Week break while that from India strengthened ahead of November’s Diwali festival. Separately, top exporter Indonesia lowered its crude palm oil reference price for the October 16-31 period to $740.67 per ton, from $827.37 previously. Jakarta on October 13 launched its palm oil futures exchange but said that it will not make trading via the exchange mandatory.
