KUALA LUMPUR: Malaysian palm oil futures extended gains to a more than four-month high on Tuesday evening, supported by bullish price forecasts at an industry conference over the weekend and strength in US soyoil.
The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange rose as much as 1.9 per cent to 2,269 ringgit ($549.39) a tonne, its strongest since September 7. It was last up 1.7pc at 2,263 ringgit at the close of trade. Trading volumes stood at 40,437 lots of 25 tonnes each at the end of the trading day.
Published in Dawn, January 23rd, 2019
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