Palm oil rebounds on China demand optimism

Futures for September delivery jumped 5.5% to close at RM4,920 a tonne, the biggest gain since late April, after slumping almost 15% last week.

KUALA LUMPUR: Palm oil posted its biggest advance in two months on bargain hunting and optimism that Chinese demand will improve, although investors remained cautious as crop prices have crashed to the levels before Russia’s invasion of Ukraine.

Futures for September delivery jumped 5.5% to close at RM4,920 a tonne, the biggest gain since late April, after slumping almost 15% last week.