KUALA LUMPUR: Malay­­sian palm oil futures charted a sixth day of gains in seven on Tuesday evening as the market cheered a bullish outlook on March production and inventory levels.

Traders expect Malaysian Palm Oil Board on Wednes­day to show declines in March end-stocks because of strong exports and only slight gains in output.

The benchmark palm oil contract for June delivery on the Bursa Malaysia Deri­vatives Exchange was up 0.6 per cent at 2,212 ringgit ($540.57) a tonne at the close.

“All the polls are quite bullish, hence the continuation of the market’s up­­trend,” said one Kuala Lumpur-based trader.

Published in Dawn, April 10th, 2019