KUALA LUMPUR: Malaysian palm oil futures rose for a fifth consecutive session on Thursday, buoyed by last-minute buying ahead of September data from the Palm Oil Board.

Gains in palm and rival soyoil on China’s Dalian Commodity Exchange also supported the market. Palm oil is affected by price movements in related oils that compete in the global vegetable oils market.

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange closed 0.2 per cent up at 2,201 ringgit ($526.06) a tonne. The January palm oil contract on the Dalian exchange was last up 0.6pc while the January soyoil contract was gained 0.2pc.

Published in Dawn, October 11th, 2019