Malaysian palm oil futures rose on Friday on gains in rival edible oils and improving February exports, although worries over Chinese demand due to the coronavirus outbreak led the commodity to its second straight weekly loss.
The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange closed up 32 ringgit, or 1.23%, at a settlement price of 2,622 ringgit ($626.25).
But palm oil lost 1.4% this week as the epidemic in No. 2 buyer China disrupted economic activity.
Comments
Comments are closed.