The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 0.04 percent to 2,630 ringgit ($613.48) at the close of trade. It earlier rose to 2,654 ringgit, its highest since Aug. 1. Traded volumes stood at 32,666 lots of 25 tonnes each at the end of the trading day.
KUALA LUMPUR: Malaysian palm oil futures rose to a one-week high on Wednesday evening, tracking stronger related edible oils, but pared some gains late in the session as the market traded cautiously ahead of the release of industry data.
Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance are scheduled to release data for Malaysian exports during the Aug. 1-10 period on Thursday, while the Malaysian Palm Oil Board (MPOB) is due to announce inventory, production and export figures for July.
Limited time offer:
Just RM5 per month.
