Markets
Palm extends climb as rival oils gain; traders eye production data
- Palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange gained 68 ringgit, or 1.49%, to 4,627 ringgit a metric ton
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KUALA LUMPUR: Malaysian palm oil futures rose for a third consecutive session on Wednesday, propped up by stronger related oils, although expectations of higher production may limit upside movements.
The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange gained 68 ringgit, or 1.49%, to 4,627 ringgit ($1,170.50) a metric ton in early trade.
The contract extended the 2.45% gain recorded over the previous two sessions.
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