Malaysian palm oil price up on expectation of better export data

Indonesian authorities plan to challenge the duties and will coordinate their response with the companies and the Indonesian biodiesel association, a senior Indonesian trade official told Reuters. "The companies are now working to rebut the proposed calculations of the EU for which the deadline is this Friday," said Pradnyawati, director of trade security at Indonesia's Trade Ministry.

KUALA LUMPUR: Malaysian palm oil futures jumped more than 1% on Wednesday as traders bet upcoming export data would overshoot forecasts.

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was up 1.2% at 2,047 ringgit ($491) per tonne at the close.