Malaysian palm oil price recovers from near 12-year low

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange rose as much as 9.1% in early trade. However, the contract pared some gains and closed 5.9% higher at 2,728 ringgit ($671.09) per tonne.

JAKARTA: Malaysian palm oil futures jumped the most in 11 years on Wednesday after sharp losses in the previous session, helped by expectations of lower output, although fears over the fast-spreading coronavirus capped the gains.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange rose as much as 9.1% in early trade.