Palm oil snaps six-day decline after strong export data
Malaysian palm oil futures climbed on Monday, as the contract rebounded from a six-day decline, after higher palm exports in key producer Malaysia lifted market sentiment.
The benchmark palm oil contract FCPOc3 for July delivery on the Bursa Malaysia Derivatives Exchange was up 14 ringgit, or 0.36%, at 3,940 ringgit ($824.27) a metric ton, as of 0236 GMT, and set to end its longest losing streak since September 2023, if gains hold.
The contract lost 8.31% last week and posted its deepest week-on-week decline since end-April 2023.
Read also
We can forget about Ukrainian wheat trade with the EU under new quotas – opi...
India cannot conclude a trade deal with the EU due to a dispute with Pakistan over...
The Counterparty Is Trying to Avoid Fulfilling the Contract. What Should You Do?
USDA analysts left the forecast for the corn harvest in Ukraine unchanged
Chinese tariffs threaten European pork sector
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon