KUALA LUMPUR: Malaysian palm oil futures charted a sixth day of gains in seven on Tuesday evening as the market cheered a bullish outlook on March production and inventory levels.
Traders expect Malaysian Palm Oil Board on Wednesday to show declines in March end-stocks because of strong exports and only slight gains in output.
The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange was up 0.6 per cent at 2,212 ringgit ($540.57) a tonne at the close.
“All the polls are quite bullish, hence the continuation of the market’s uptrend,” said one Kuala Lumpur-based trader.
Published in Dawn, April 10th, 2019
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