The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 0.4% at 2,067 ringgit ($501.94) per tonne at the close of trade, its fifth consecutive session of gains. It earlier rose 0.7% to 2,073 ringgit, its strongest level since June 7. Palm is also up 4.8% for the week in a second week of gains.
PETALING JAYA: The falling price of crude palm oil (CPO), which has dropped below RM2,000 a tonne, is hurting planters.
At RM1,985 a tonne yesterday, the vegetable oil is trading near its lowest level in six months.
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
