Palm oil hits over three-week high on stronger Indonesian demand outlook
Malaysian palm oil futures rose for a fourth consecutive session on Monday to hit a more than three-week high, buoyed by improved demand prospects from top consumer Indonesia, although weaker exports limited gains.
The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange rose 19 ringgit, or 0.49%, to 3,886 ringgit ($894.98) a metric ton as of 0235 GMT.
The contract hit an intraday high of 3900 ringgit, its strongest level since Aug. 2.
Read also
Ukraine and the EU are working on a €4 billion support scheme for farmers
Soybean and rapeseed prices are rising despite an improvement in the global oilsee...
Lower maize stocks in the US outweighed the rise in global production
Kazakhstan is reducing its wheat acreage in favour of oilseed crops
The US Department of Agriculture (USDA) forecasts an increase in Ukraine’s grain h...
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon