KUALA LUMPUR: Malaysian palm oil futures rose nearly 2 per cent on Tuesday, hitting their highest in nearly three weeks, as production rose more slowly than expected.

The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange closed 0.8pc higher at 2,178 ringgit ($529.15) a tonne, having earlier risen as much as 1.7pc to 2,197 ringgit, its highest since Dec 20. Trading volumes stood at 45,785 lots of 25 tonnes each.

Published in Dawn, January 9th, 2019