KUALA LUMPUR: Malaysian palm oil futures closed flat on Wednesday as short covering in the second half of trade helped the market recover from losses earlier in the day.

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange closed at 2,408 ringgit ($619.34) a tonne on Wednesday evening. It earlier fell as much as 1.2 per cent to an intraday low of 2,380 ringgit. Palm had jumped 1.6pc in its previous trading session, after seeing six straight days of declines. Trading volumes on Wednesday stood at 52,515 lots of 25 tonnes each at the close of trade.

Published in Dawn, April 19th, 2018