Markets
Palm jumps more than 9% on opening
- The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange gained 407 ringgit, or 9.32%, to 4,774 ringgit
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JAKARTA: Malaysian palm oil futures surged more than 9% early Monday, the biggest jump in three years, climbing to the highest level in more than a year on expectations that a rally in crude oil will boost demand for biodiesel feedstocks.
The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange gained 407 ringgit, or 9.32%, to 4,774 ringgit ($1,204.04) a metric ton by 0230 GMT.
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