The contract fell for a sixth straight session to hit its lowest since Oct. 4.
For the month, palm is on course for an 8.1% decline.
FUNDAMENTALS
* Indonesia will lower its mandatory domestic sales
threshold for palm oil producers to 300,000 tonnes a month
starting in May, the Trade Ministry said on Thursday, allowing
more shipments of the widely used oil to leave the country.
* Dalian's most-active soyoil contract fell 1.2%,
while its palm oil contract lost 1.8%. Soyoil prices on
the Chicago Board of Trade were up 0.5%.
* Palm oil is affected by price movements in related oils as
they compete for a share in the global vegetable oils market.
* Palm oil may fall to 3,407 ringgit per tonne, driven by a
wave C, Reuters technical analyst Wang Tao said. MARKET NEWS
* Asian stocks rallied on Friday as strong corporate
earnings helped lift sentiment even as worries over economic
weakness lingered, while investors also awaited a policy
decision from the Bank of Japan. DATA/EVENTS (GMT)
0530 France GDP Preliminary QQ Q1
0645 France CPI (EU Norm) Prelim YY April
0645 France Producer Prices YY March
0755 Germany Unemployment Rate, Chg SA April
0800 Germany GDP Flash QQ SA, YY NSA Q1
0900 EU GDP Flash Prelim YY, QQ Q1
1200 Germany CPI Prelim YY April
1200 Germany HICP Prelim YY April
1230 US Consumption, Adjusted MM March
1230 US Core PCE Price Index MM, YY March
1230 US PCE Price Index MM, YY March
1230 US Employment Costs Q1
1400 US U Mich Sentiment Final April
EU finance ministers and heads of central banks meet in
Stockholm
during the Swedish presidency of the Council of the European
Union
($1 = 4.4560 ringgit)
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(Reporting by Mei Mei Chu; Editing by Sonia Cheema)
* To view freight rates from Peninsula Malaysia/Sumatra to China, India, Pakistan and Rotterdam, please key in and press enter, or double click between the brackets.
* Reuters Terminal users can see cash and futures edible oil prices by double clicking on the codes in the brackets: To go to the next page in the same chain, hit F12. To go back, hit F11. Vegetable oils Malaysian palm oil exports CBOT soyoil futures CBOT soybean futures Indian solvent Dalian Commodity Exchange Dalian soyoil futures Dalian refined palm oil futures Zhengzhou rapeseed oil European edible oil prices/trades ))
