Commodities: Palm oil rises

Published June 17, 2014

KUALA LUMPUR: Malaysian palm oil futures rose for a third straight day on Monday as a spike in crude oil prices continued to stoke demand for the tropical oil, although disappointing export data for the first half of the month capped gains.

Exports of Malaysian palm products for June 1-15 fell 7.8 per cent to 589,748 tonnes from a month earlier, cargo surveyor Intertek Testing Services said.

Another cargo surveyor showed exports fell 8.3pc for the same period. “Crude oil is very high, certainly it will encourage biodiesel activity,” said a trader with a foreign commodities brokerage.

The benchmark Sep­tem­­­ber contract on the Bursa Malaysia Deriva­t­ives Exchange had edged up 0.1pc to 2,428 ringgit ($753) per tonne by Monday’s close, with prices trading between 2,420 and 2,445 ringgit. Total traded volume stood at 50,012 lots of 25 tonnes, much higher than the average 12,500 lots.—Reuters

Published in Dawn, June 17th, 2014



Back to bedlam
Updated 25 May, 2022

Back to bedlam

FEAR tactics have never worked in the past, and most likely will not this time either. The government’s ...
25 May, 2022

Balochistan blaze

THE forest fire on the Koh-i-Sulaiman range in Balochistan’s Shirani area is among a series of blazes to have...
25 May, 2022

Unequal citizens

INDIFFERENCE would have been bad enough, but the state’s attitude towards non-Muslims falls squarely in the...
Updated 24 May, 2022

Marching in May

MORE unrest. That is the forecast for the weeks ahead as the PTI formally proceeds with its planned march on...
24 May, 2022

Policy rate hike

THE State Bank has raised its policy rate by 150bps to 13.75pc, hoping that its latest monetary-tightening action...
24 May, 2022

Questionable campaign

OVER the past couple of days, a number of cases have been registered in different parts of the country against...