Malaysian palm oil futures held around MYR 3,980 per tonne on Thursday, gaining for the fourth straight session while staying around their highest level since the start of September, amid a weaker ringgit and indications of sustained demand. Exports of Malaysian palm oil products between Nov. 1-15 rose 6.4% to 645,590 tonnes from 606,980 tonnes shipped during Oct. 1-15, data from independent inspection company AmSpec Agri showed. Meantime, Societe Generale de Surveillance (SGS) estimated shipments of Malaysian palm oil products for Nov. 1-15 at 602,510 tons. In top producer Indonesia, crude palm oil reference price was set at $750.54 for Nov. 16-30, up from $748.93 a ton for the previous 15-day period. Caution over the lack of follow-up buying from customers, except India, capped the upside momentum, alongside a decline in rival Dalian and Chicago soyoil prices and the possibility of profit-taking activities.
