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Palm oil rises

August 12, 2017

KUALA LUMPUR: Mala­ysian palm oil futures rose on Friday evening to chart a fourth consecutive day of gains, reaching its highest levels in nearly two weeks as it tracked gains in soyoil on the Chicago Board of Trade.

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 0.7 per cent at 2,682 ringgit ($624.67) at the close. It earlier rose to 2,685 ringgit, its strongest levels since Aug 1.

The market was also up 2.8pc for the week. Traded volumes stood at 71,006 lots of 25 tonnes each in the evening.

Published in Dawn, August 12th, 2017