Malaysian palm oil prices at highest level for more than a week despite data

According to Subur Tiasa senior independent director Ngu Ying Ping the company may seek a renewal of the oil palm plantation licence to expand the oil palm plantation operation or venture into plantation of trees that would complement its timber operation.

KUALA LUMPUR: Malaysian palm oil futures rose to their highest level in over a week on Thursday evening on expectations of soyoil gains, despite the earlier release of bearish industry data.

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 1.3 percent to 2,663 ringgit ($620.75) on Thursday evening. It earlier climbed to an intraday high of 2,672 ringgit, its highest level since August 1.