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Malaysian palm oil price up more than 1% as output expected to decline


  • Palm Oil
  • Saturday, 15 Dec 2018

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange closed up 1.1 percent at 2,068 ringgit ($494) a tonne for a third consecutive session of gains. It earlier reached 2,071 ringgit, its highest level since Nov. 22.  Palm has gained 3.5 percent this week after two straight weekly falls

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange closed up 1.1 percent at 2,068 ringgit ($494) a tonne for a third consecutive session of gains. It earlier reached 2,071 ringgit, its highest level since Nov. 22. Palm has gained 3.5 percent this week after two straight weekly falls

KUALA LUMPUR: Malaysian palm oil futures rose more than 1 percent on Friday to a three-week peak, supported by expectations of slowing output in Malaysia and easing stock levels in Indonesia.

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange closed up 1.1 percent at 2,068 ringgit ($494) a tonne for a third consecutive session of gains. It earlier reached 2,071 ringgit, its highest level since Nov. 22.

Palm Oil , Markets , Plantations , Corporate News

   

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