Malaysian palm oil price jumps to near 3-month top on support from crude oil

TheStar Sat, Jan 19, 2019 06:48am - 5 years View Original


The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange was 1.3 percent up at 2,226 ringgit ($541.61) a tonne at the close. It was earlier as high as 2,228 ringgit, its strongest levels since Oct. 23. Palm is up 2.4 percent for the week, a second week of gains in three.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange was 1.3 percent up at 2,226 ringgit ($541.61) a tonne at the close. It was earlier as high as 2,228 ringgit, its strongest levels since Oct. 23. Palm is up 2.4 percent for the week, a second week of gains in three.

KUALA LUMPUR: Malaysian palm oil futures jumped to a near three-month high on Friday, charting a second day of gains, buoyed by strong crude oil prices and technical buying.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange was 1.3 percent up at 2,226 ringgit ($541.61) a tonne at the close. It was earlier as high as 2,228 ringgit, its strongest levels since Oct. 23.

   

Palm is up 2.4 percent for the week, a second week of gains in three.

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