KUALA LUMPUR: Malaysian palm oil futures recovered from earlier losses to rise over 1 per cent on Tuesday, supported by strength in related edible oils and expectations that production gains will not be as high as forecast.
The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 1.1pc at 2,004 ringgit ($486.64) per tonne at the close of trade, after declining earlier on overnight losses in US soyoil on the Chicago Board of Trade (CBOT). The market earlier rose as much as 1.3pc to a one-month high of 2,008 ringgit.
Published in Dawn, July 24th, 2019
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