Markets
Palm oil rises 5% on stronger soyoil, higher April exports
- The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange gained 194 ringgit.
KUALA LUMPUR: Malaysian palm oil futures rose 5% on Monday and were on track for their best session in more than 11 months, buoyed by stronger April exports and a rally in rival soyoil amid worries about global edible oils supply.
The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange gained 194 ringgit, or 5.02%, to 4,062 ringgit ($990.01) a tonne in early trade, after falling 1.5% last week.
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