Palm oil climbs as upbeat rivals, export outlook support
Malaysian palm oil futures rose on Tuesday, buoyed by strength in rival Dalian and Chicago soyoil contracts as well as higher exports in Indonesia, the world’s biggest producer.
The benchmark palm oil contract FCPOc3 for August delivery on the Bursa Malaysia Derivatives Exchange gained 80 ringgit, or 2.07%, to 3,950 ringgit ($842.22) per metric ton during early trade.
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