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Malaysian palm oil price rebounds on correction, stronger crude oil

  • Palm Oil

  • Wednesday, 5 Dec 2018

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange rose 0.9 percent at 2,017 ringgit ($486.61) a tonne at the end of the trading day, its strongest gains in a day since Nov. 28. It had risen as much as 1.8 percent to 2,037 ringgit in earlier trade. Trading volumes stood at 42,059 lots of 25 tonnes each at the end of the trading day.

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange rose 0.9 percent at 2,017 ringgit ($486.61) a tonne at the end of the trading day, its strongest gains in a day since Nov. 28. It had risen as much as 1.8 percent to 2,037 ringgit in earlier trade. Trading volumes stood at 42,059 lots of 25 tonnes each at the end of the trading day.

KUALA LUMPUR: Malaysian palm oil futures reversed earlier losses to gain at the end of the trading day, supported by a correction and on strength in crude oil prices.

The market had earlier been range trading, and was slightly down at the midday break ahead of a poll and an official data release for November.

Palm Oil , Markets , Plantations

   

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