Alert Sign Dear reader, online ads enable us to deliver the journalism you value. Please support us by taking a moment to turn off Adblock on

Alert Sign Dear reader, please upgrade to the latest version of IE to have a better reading experience


Palm oil prices up

August 16, 2012


SINGAPORE, Aug 15: Malaysian crude palm oil futures gained slightly on Wednesday as last-minute buying on rising exports for the first half of August erased losses posted earlier in the session.

The Southeast Asian country's palm oil exports showed signs of recovery after declines in July, bringing some cheer to the market that has lost almost 10 per cent this year.

At closing, the benchmark October palm oil futures on the Bursa Malaysia Derivatives Exchange inched up just 0.1 per cent to 2,862 ringgit ($916) per ton. The contract hit a low of 2,820 ringgit on Tuesday, a level not seen since Oct 18.—Reuters