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.
Read also
Palm oil prices are expected to continue rising after a short-term correction
Georgia reduced wheat imports in April
Brazilian soyabean oil exports jump 47% amid record crop and weak domestic demand
Zimbabwe plans new grain import levies to strengthen food security
Global vegetable oil production to hit record high again – USDA
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon