Malaysian palm oil closed higher on Friday, reversing earlier losses, as traders squared positions ahead of the weekend and as low stock levels supported the market.
SEREMBAN: Negri Sembilan, a major palm oil producing state, will no longer allow the palm to be grown in swampy areas and abandoned padi fields to prevent the state from “drying up”.
Mentri Besar Datuk Seri Mohamad Hasan said his administration had to resort to this as many streams and sections of rivers had dried up since the crop was grown on a big scale statewide in recent years.
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