KUALA LUMPUR: Malaysian palm oil futures rebounded on Thursday from a near one-month low hit in the previous session on falling output, with many palm investors looking for fresh direction from an industry gathering this week in Bali.
The February benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange rose to touch 2,343 ringgit per tonne, its highest level since Nov. 16. The contract hit a near one-month low of 2,260 ringgit on Wednesday.
Palm ended 1.9 per cent higher by the close at 2,342 ringgit ($555) per tonne. Prices are down about 0.8pc for the month so far.
Traded volumes stood at 33,259 lots of 25 tonnes each, less than the 35,000 average lots usually traded by the end of session.
Published in Dawn, November 27th, 2015
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