AIRLINK 178.25 Decreased By ▼ -2.11 (-1.17%)
BOP 11.09 Decreased By ▼ -0.08 (-0.72%)
CNERGY 8.54 Increased By ▲ 0.01 (0.12%)
CPHL 97.60 Decreased By ▼ -2.81 (-2.8%)
FCCL 45.63 Decreased By ▼ -0.33 (-0.72%)
FFL 15.99 Increased By ▲ 0.18 (1.14%)
FLYNG 27.90 Increased By ▲ 0.01 (0.04%)
HUBC 142.55 Increased By ▲ 0.08 (0.06%)
HUMNL 13.01 No Change ▼ 0.00 (0%)
KEL 4.49 Decreased By ▼ -0.03 (-0.66%)
KOSM 5.91 Increased By ▲ 0.07 (1.2%)
MLCF 61.30 Decreased By ▼ -0.60 (-0.97%)
OGDC 212.70 Decreased By ▼ -1.62 (-0.76%)
PACE 5.88 Decreased By ▼ -0.04 (-0.68%)
PAEL 46.51 Decreased By ▼ -0.32 (-0.68%)
PIAHCLA 17.60 Decreased By ▼ -0.24 (-1.35%)
PIBTL 10.60 Decreased By ▼ -0.02 (-0.19%)
POWER 12.10 Decreased By ▼ -0.07 (-0.58%)
PPL 170.50 Decreased By ▼ -2.21 (-1.28%)
PRL 34.91 Decreased By ▼ -1.11 (-3.08%)
PTC 22.80 Decreased By ▼ -0.46 (-1.98%)
SEARL 94.90 Decreased By ▼ -1.16 (-1.21%)
SSGC 40.35 Decreased By ▼ -0.99 (-2.39%)
SYM 14.20 Decreased By ▼ -0.24 (-1.66%)
TELE 7.42 Increased By ▲ 0.04 (0.54%)
TPLP 10.21 Increased By ▲ 0.13 (1.29%)
TRG 66.70 Decreased By ▼ -1.20 (-1.77%)
WAVESAPP 10.09 Increased By ▲ 0.09 (0.9%)
WTL 1.33 Decreased By ▼ -0.01 (-0.75%)
YOUW 3.84 Increased By ▲ 0.03 (0.79%)
AIRLINK 178.25 Decreased By ▼ -2.11 (-1.17%)
BOP 11.09 Decreased By ▼ -0.08 (-0.72%)
CNERGY 8.54 Increased By ▲ 0.01 (0.12%)
CPHL 97.60 Decreased By ▼ -2.81 (-2.8%)
FCCL 45.63 Decreased By ▼ -0.33 (-0.72%)
FFL 15.99 Increased By ▲ 0.18 (1.14%)
FLYNG 27.90 Increased By ▲ 0.01 (0.04%)
HUBC 142.55 Increased By ▲ 0.08 (0.06%)
HUMNL 13.01 No Change ▼ 0.00 (0%)
KEL 4.49 Decreased By ▼ -0.03 (-0.66%)
KOSM 5.91 Increased By ▲ 0.07 (1.2%)
MLCF 61.30 Decreased By ▼ -0.60 (-0.97%)
OGDC 212.70 Decreased By ▼ -1.62 (-0.76%)
PACE 5.88 Decreased By ▼ -0.04 (-0.68%)
PAEL 46.51 Decreased By ▼ -0.32 (-0.68%)
PIAHCLA 17.60 Decreased By ▼ -0.24 (-1.35%)
PIBTL 10.60 Decreased By ▼ -0.02 (-0.19%)
POWER 12.10 Decreased By ▼ -0.07 (-0.58%)
PPL 170.50 Decreased By ▼ -2.21 (-1.28%)
PRL 34.91 Decreased By ▼ -1.11 (-3.08%)
PTC 22.80 Decreased By ▼ -0.46 (-1.98%)
SEARL 94.90 Decreased By ▼ -1.16 (-1.21%)
SSGC 40.35 Decreased By ▼ -0.99 (-2.39%)
SYM 14.20 Decreased By ▼ -0.24 (-1.66%)
TELE 7.42 Increased By ▲ 0.04 (0.54%)
TPLP 10.21 Increased By ▲ 0.13 (1.29%)
TRG 66.70 Decreased By ▼ -1.20 (-1.77%)
WAVESAPP 10.09 Increased By ▲ 0.09 (0.9%)
WTL 1.33 Decreased By ▼ -0.01 (-0.75%)
YOUW 3.84 Increased By ▲ 0.03 (0.79%)
BR100 12,505 Increased By 24.1 (0.19%)
BR30 37,741 Decreased By -266.6 (-0.7%)
KSE100 116,866 Increased By 90.7 (0.08%)
KSE30 35,912 Increased By 63.2 (0.18%)

SINGAPORE: Malaysian palm oil rose for a second consecutive session on Friday, tracking firm crude oil prices, although the market logged a weekly loss.

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange closed 0.4% higher at 3,976 ringgit ($848.12) per metric ton. The contract has lost over 2% this week.

A lack of demand and rising supplies are likely to keep a lid on prices, said a Kuala Lumpur-based trader.

“This 3,800-4,000 ringgit trading range will continue unless we see really good demand.” Dalian’s most-active soyoil contract gained 1.8%, while its palm oil contract rose 2%. Both contracts were also down for the week.

Meanwhile, soyoil prices on the Chicago Board of Trade fell 0.5%.

Palm oil prices are influenced by the movements of related oils as they vie for a portion of the global vegetable oils market.

Oil prices were little changed after rising in the previous session as reassurances from OPEC+ members Saudi Arabia and Russia indicated readiness to pause or reverse output agreements.

Higher crude oil futures make palm a more attractive option for biodiesel feedstock.

Comments

Comments are closed.