Palm oil prices up

Published Aug 16, 2012 12:05am

SINGAPORE, Aug 15: Malaysian crude palm oil futures gained slightly on Wednesday as last-minute buying on rising exports for the first half of August erased losses posted earlier in the session.

The Southeast Asian country's palm oil exports showed signs of recovery after declines in July, bringing some cheer to the market that has lost almost 10 per cent this year.

At closing, the benchmark October palm oil futures on the Bursa Malaysia Derivatives Exchange inched up just 0.1 per cent to 2,862 ringgit ($916) per ton. The contract hit a low of 2,820 ringgit on Tuesday, a level not seen since Oct 18.—Reuters


Do you have information you wish to share with Dawn.com? You can email our News Desk to share news tips, reports and general feedback. You can also email the Blog Desk if you have an opinion or narrative to share, or reach out to the Special Projects Desk to send us your Photos, or Videos.

More From This Section

Textile exports rise by 7pc

Surge in exports is because of govt's decision of ensuring uninterrupted power and gas supply to textile mills.

Comments (0) Closed