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Palm oil rebounds

December 05, 2018


KUALA LUMPUR: Malaysian palm oil futures reversed earlier losses to gain at the end of the trading day, supported by a correction and on strength in crude oil prices.

The market had earlier been range trading, and was slightly down at the midday break ahead of a poll and an official data release for November.

The benchmark palm oil contract for February ­delivery on the Bursa Malaysia Derivatives Exchange rose 0.9 per cent at 2,017 ringgit ($486.61) a tonne at the end of the trading day, its strongest gains in a day since Nov 28. It had risen as much as 1.8pc to 2,037 ringgit in earlier trade. Trading volumes stood at 42,059 lots of 25 tonnes each at the end of the trading day.

Published in Dawn, December 5th, 2018