CPO price higher on demand from China

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange rose 0.32 percent to 2,188 ringgit ($528.50) per tonne by the midday break. Palm oil posted a combined 1.8 percent gain in the previous two sessions, after hitting a three-year low last week.

PETALING JAYA: The price of crude palm oil (CPO) climbed for the first time in three days yesterday, boosted by stronger soybean oil prices and optimism about demand from China.

At the close, the benchmark futures contract for CPO on Bursa Derivatives rose RM13 to RM2,237 a tonne. The price of soybean oil on the Chicago Board was up 0.3% at 29.22 cents a lb.