SINGAPORE (May 17): Malaysian palm oil futures closed Friday's trading unchanged, as the market lost steam after a four-session rally backed by strong demand for the edible oil. The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange ended flat at 2,096 ringgit (US$501.56) a tonne. During the session, the market had fallen to 2,078 ringgit on some profit-taking, a Kuala Lumpur-based trader said. But palm oil gained 5.7% for the week after three weekly losses. Malaysian palm oil shipments rose between 4% and 15% during May 1-15 from the corresponding period last month, according to data from three cargo surveyors, Amspec Agri Malaysia, Intertek Testing Services and Societe Generale de Surveillance.

Source: The Edge Markets May 17, 2019 17:15 UTC