Malaysian palm oil futures remained little changed on Tuesday

Malaysian palm oil futures were little changed on Tuesday after three consecutive periods of gains as strong exports and Chinese demand were offset by lower soybean oil prices in Chicago. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange rose 19 ringgit, or 0.5%, to 3,799 ringgit ($802.83) a tonne in midday trading. Exports of Malaysian palm oil products rose 5.6% between October 1 and 15, independent inspection firm AmSpec Agri Malaysia said on Sunday. Another surveyor, Intertek Testing Services, said exports were up 7.3%. Heavy purchasing by major importer China to replenish stocks also contributed to the rise in prices, said Mitesh Saiya, trade manager at Kantilal Laxmichand & Company Mumbai, Reuters reported. However, caution should be exercised as the winter season approaches as palm oil consumption is expected to decline, he said. Palm oil crystallizes and becomes cloudy when cold, which affects the perceived quality of the oil ...