ANL 14.34 Decreased By ▼ -0.41 (-2.78%)
ASC 13.95 Decreased By ▼ -0.05 (-0.36%)
ASL 15.10 No Change ▼ 0.00 (0%)
BOP 8.52 Decreased By ▼ -0.08 (-0.93%)
BYCO 6.54 Decreased By ▼ -0.15 (-2.24%)
FCCL 18.80 No Change ▼ 0.00 (0%)
FFBL 26.85 Increased By ▲ 0.35 (1.32%)
FFL 11.00 Decreased By ▼ -0.19 (-1.7%)
FNEL 10.51 Decreased By ▼ -0.38 (-3.49%)
GGGL 16.25 Increased By ▲ 0.55 (3.5%)
GGL 31.50 Decreased By ▼ -0.61 (-1.9%)
HUMNL 6.24 Decreased By ▼ -0.11 (-1.73%)
JSCL 16.89 Decreased By ▼ -0.37 (-2.14%)
KAPCO 33.10 Decreased By ▼ -0.15 (-0.45%)
KEL 3.27 Increased By ▲ 0.04 (1.24%)
MDTL 2.27 No Change ▼ 0.00 (0%)
MLCF 37.10 Increased By ▲ 0.65 (1.78%)
NETSOL 102.80 Increased By ▲ 0.64 (0.63%)
PACE 4.68 Increased By ▲ 0.28 (6.36%)
PAEL 23.15 Decreased By ▼ -0.40 (-1.7%)
PIBTL 7.86 Increased By ▲ 0.16 (2.08%)
POWER 7.05 Increased By ▲ 0.29 (4.29%)
PRL 13.66 Decreased By ▼ -0.27 (-1.94%)
PTC 8.90 Decreased By ▼ -0.17 (-1.87%)
SILK 1.31 Decreased By ▼ -0.04 (-2.96%)
SNGP 41.70 Decreased By ▼ -0.10 (-0.24%)
TELE 16.99 Increased By ▲ 0.06 (0.35%)
TRG 87.75 Decreased By ▼ -2.76 (-3.05%)
UNITY 25.35 Increased By ▲ 0.05 (0.2%)
WTL 2.20 Increased By ▲ 0.05 (2.33%)
BR100 4,671 Increased By ▲ 6.15 (0.13%)
BR30 18,834 Increased By ▲ 159.86 (0.86%)
KSE100 45,369 Increased By ▲ 296.76 (0.66%)
KSE30 17,576 Increased By ▲ 146.24 (0.84%)

Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,745
824hr
Pakistan Cases
1,285,631
37724hr
0.85% positivity
Sindh
476,017
Punjab
443,240
Balochistan
33,488
Islamabad
107,765
KPK
180,146

KUALA LUMPUR: Malaysian palm oil futures climbed more than 3% to hit a six-week high on Thursday, lifted by higher exports so far in July, while dry weather and a labour shortage hitting global production of vegetable oils also boosted sentiment.

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange climbed 136 ringgit, or 3.38%, to 4,157 ringgit ($989.53) a tonne.

Palm rose for a third straight session to its highest closing since June 3.

“Culmination of higher palm and bean oil trade on Dalian, a weaker ringgit, supportive sentiments, and soaring exports are rocking prices higher today,” said Sathia Varqa, co-founder of Singapore-based Palm Oil Analytics.

Malaysia’s exports during July 1-15 rose about 5% from the same period in June, cargo surveyors said.

Dry weather in the U.S Midwest crop belt threatening production has been supporting prices of Chicago soyabean futures, while palm oil production in Malaysia is also expected to remain constrained due to labour shortage and coronavirus-led lockdowns.

Soyaoil prices on the Chicago Board of Trade rose 0.7%. Dalian’s most-active soyaoil contract gained 1.3%, while its palm oil contract jumped 2.2%.

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

The ringgit, palm’s currency of trade, fell 0.05% against the dollar after Malaysia reported a new daily record of 13,215 new coronavirus cases. This makes the commodity cheaper for holders of foreign currency.

We love hearing your feedback, please help us improve by answering these few survey questions

Comments

Comments are closed.