KUALA LUMPUR: Malaysian palm oil futures reversed early losses to end 3 per cent higher on Wednesday after an industry body forecast a bigger-than-expected drop in output and on hopes that India would reduce duties on imports of the vegetable oil.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange closed up 87 ringgit, or 3pc, at 2,974 ringgit. It fell 0.5pc in the previous session.

Published in Dawn, January 23rd, 2020