BR100 Decreased By (-0.13%)
BR30 Decreased By (-0.01%)
KSE100 Decreased By (-0.01%)
KSE30 Decreased By (-0.02%)
AGHA 6.33 Increased By ▲ 0.01 (0.16%)
BECO 4.24 Decreased By ▼ -0.03 (-0.7%)
BML 62.94 Increased By ▲ 0.49 (0.78%)
BOP 31.37 Increased By ▲ 0.14 (0.45%)
CNERGY 11.76 Increased By ▲ 0.17 (1.47%)
CSIL 5.90 Increased By ▲ 0.18 (3.15%)
FCCL 60.99 Decreased By ▼ -0.55 (-0.89%)
FFL 15.08 Increased By ▲ 0.06 (0.4%)
FNEL 1.25 Increased By ▲ 0.02 (1.63%)
KEL 6.23 Decreased By ▼ -0.03 (-0.48%)
KOSM 5.61 Increased By ▲ 0.05 (0.9%)
LOTCHEM 24.69 Increased By ▲ 0.01 (0.04%)
MLCF 103.20 Decreased By ▼ -0.88 (-0.85%)
NBP 176.00 Increased By ▲ 0.72 (0.41%)
NCPL 53.19 Increased By ▲ 0.42 (0.8%)
NPL 54.41 Increased By ▲ 0.29 (0.54%)
OGDC 313.05 Decreased By ▼ -0.34 (-0.11%)
PACE 9.24 Increased By ▲ 0.04 (0.43%)
PAEL 35.60 Decreased By ▼ -0.20 (-0.56%)
PIBTL 13.48 Increased By ▲ 0.01 (0.07%)
PPL 221.15 Decreased By ▼ -0.66 (-0.3%)
PRL 80.40 Increased By ▲ 1.32 (1.67%)
PTC 46.83 Decreased By ▼ -0.02 (-0.04%)
SSGC 24.21 Increased By ▲ 0.34 (1.42%)
TBL 9.39 Increased By ▲ 0.08 (0.86%)
TELE 7.39 No Change ▼ 0.00 (0%)
TPL 24.70 Decreased By ▼ -0.41 (-1.63%)
TPLP 12.60 Increased By ▲ 0.09 (0.72%)
TREET 26.26 Increased By ▲ 0.01 (0.04%)
TRG 53.49 Increased By ▲ 0.05 (0.09%)
اردو
Android App
Print Edition Dollar to PKR
Daily Petrol Prices IMF-World Bank meetings Intl Oil Prices Iran-US war Gold Rates Podcasts PSX Notices
Markets

Palm heads for second monthly gain on tight supply concerns

Published Updated
Save
1 min
Comments
By Reuters

JAKARTA: Malaysian palm oil futures were on track for a second straight monthly gain amid concerns about tight supply as prices rose on Friday after two sessions of falls in a row.

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 0.93% to 4,975 ringgit a tonne in early trade, after shedding 1.66% in the previous two sessions. For the month, it was up about 8.4%.

Fundamentals

  • Dalian's palm oil contract gained 1.61%, while its most-active soyoil contract rose 1.09%. Soyoil prices on the Chicago Board of Trade rose 0.20%.

  • Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.

    • Palm oil may test a resistance at 5,048 ringgit per tonne, as it has stabilised around a support at 4,822 ringgit, Reuters technical analyst Wang Tao said.
Oil Palm

Comments

Comments are closed for this article.

More Stories

Browse all stories