Malaysian palm oil/Vegoils: Market factors to watch Wednesday Jan 2

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange closed up 38 ringgit, or 1.8 percent, at 2,198 ringgit ($531.30) a tonne, after rising to its highest since Sept. 18 at 2,209 ringgit a tonne earlier in the session. Trading volumes stood at 44,514 lots of 25 tonnes each by the end of the session.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Jan 2.

FUNDAMENTALS

* Malaysian palm oil futures closed slightly down on Monday as a stronger ringgit weighed on the last trading day of 2018, charting a second consecutive year of declines as high inventories and weak demand pushed down prices.