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Palm oil rises

December 01, 2018

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KUALA LUMPUR: Malaysian palm oil futures closed higher for the third day in a row on Friday evening, supported by gains in related edible oils and ahead of US-China trade talks at the G20 meeting on Saturday.

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange was up 0.6 per cent at 2,040 ringgit ($487.80) a tonne at the end of the trading day.

Trump had sent mixed signals about the prospects for a trade deal with China, saying an agreement was close but he was not sure he wanted one.

The Chicago December soybean oil contract was up 0.4pc on Friday, while the January soybean oil contract on the Dalian Commodity Exchange rose 0.9pc.

In other related edible oils, the Dalian January palm oil contract edged up 0.4pc.

Published in Dawn, December 1st, 2018

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