Palm oil rebounds to track stronger rivals; eyes weekly loss
Malaysian palm oil futures rebounded on Friday after declining for two sessions, tracking gains in rivals soyoil and crude oil, but the market is poised for a weekly loss.
The benchmark palm oil contract FCPOc3 for July delivery on the Bursa Malaysia Derivatives Exchange rose 21 ringgit, or 0.54% to 3,895 ringgit ($815.71) a metric ton as of 0245 GMT.
It fell 0.62% during overnight trade. The contract is down about 0.8% for the week.
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