Palm oil rises

Published May 22, 2012

SINGAPORE, May 21: Mal-aysian palm oil futures edged up on Monday on improving exports, although gains were capped as investors remained wary over uncertainty surrounding the eurozone.

Malaysian palm oil exports for May 1-20 rose from a month ago, reflecting slightly better demand for the edible oil, according to cargo surveyor data.

Futures hit a five-month low at 3,034 ringgit on Friday, ending a volatile trading week when the market suffered a 5.5 per cent loss on concerns about contagion from the Greek political turmoil.—Reuters