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Palm oil moves up

January 10, 2019


KUALA LUMPUR: Malaysian palm oil futures rose to an over two-month high on Wednesday evening, charting a second straight day of gains, as traders forecast declining production in the coming months and improving export data.

The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange rose as much as 1.1 per cent to 2,202 ringgit ($535.38) in the second half of trade, its highest level since Oct 24, before easing some gains. It ended the trading day up 0.2pc to 2,183 ringgit a tonne. Trading volumes stood at 36,824 lots of 25 tonnes each at the close of trade.

Published in Dawn, January 10th, 2019