Malaysia palm oil price rise

Lead: [Malaysian palm oil prices up] Malaysian palm oil futures closed most higher Tuesday on expectations of higher purchases after China suffered a severe drought Luhut pandjaitan, Jakarta's minister of trade and industry, said Beijing had agreed to increase the quota for palm oil imports, with the hope that Malaysia's quota for the whole year would reach 1.2 million tons and Indonesia's quota would increase to 400000 tons A trader in Kuala Lumpur said: "it is expected that China's increase in purchases will be the most important topic in the market today, but I think the market price will not break through the resistance level of rm823 unless we can get more specific information." Traders say they expect Chicago soybean futures to rise (CBOT is waiting for Tuesday's USDA supply and demand report) to also help support the Malaysian market Analysts expect the U.S government to reduce its end-of-2000 / 01 soybean inventory, which is estimated to range from 270 to 275 million bushels, down from 295 million bushels reported last month Malaysia's 3-month benchmark August futures contract closed up 18 ringgit at 819 ringgit ($215.52) / ton, with 1247 trades In terms of natural market: in June, the offer price of palm oil in the South and central regions was 810 ringgit / ton, the offer price was 805 ringgit / ton, and the transaction price in the two regions was 805 ringgit / ton In July, the central and southern regions of crude palm oil offered 825 ringgit / T and 820 ringgit / T respectively It is reported that the southern and central regions traded 815-820 ringgit / T and 815 ringgit / T respectively Among refined products: the offer price of RBD palm oil in June / July was US $232.50/ton FOB, and that in August / September was US $235 / ton The offer price of RBD brown liquid oil in June / July is 245 US dollars / ton, and that in August / September is 250 US dollars / ton In June, RBD palm stearin was quoted at US $180 / ton China feed industry information network 6vr