Refined Soya oil gains on short covering
19/02/2011 (CommodityOnline) - NCDEX March Refined soya oil futures improved slightly yesterday on account of short covering after continuous fall during the last 4-5 trading sessions.
Malaysian Palm Oil Production & Exports: As per Intertek Testing Services (a cargo surveyor), exports of Malaysian palm oil during the February 1-15 rose 8.14 percent to 636,966 tonnes from 589,010 tonnes shipped during the same period in the last month.
However, As per SGS (a cargo surveyor), exports of Malaysian palm oil during the February 1-15 rose 7.3 percent to 610,087 tonnes from 568,535 tonnes shipped during the same period in the last month.
Outlook: RM Seed prices are expected trade slightly lower due to higher production estimates for this year as compared to last year.