The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange rose to its highest since January 2018 on Tuesday, but closed lower after traders locked in profit. The contract for January delivery stood at 2,562 ringgit ($620) per tonne, up 1.9% at the close on Wednesday.
KUALA LUMPUR: Malaysian palm oil futures reversed course to edge higher on Wednesday as data showed lower production figures, implying tighter supplies.
The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange rose to its highest since January 2018 on Tuesday, but closed lower after traders locked in profit.
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