Malaysia: Malaysian palm oil price gains on improved rival oils, weaker ringgit

• Aug 05, 2016

Malaysia: Malaysian palm oil price gains on improved rival oils, weaker ringgit

Thursday, 28 July 2016 – Malaysian palm oil futures notched up a second day of gains, tracking rival soyoil, while a weaker ringgit also helped to prop up prices.

Benchmark palm oil futures for October delivery on the Bursa Malaysia Derivatives Exchange rose 0.4 percent to close at 2,318 ringgit ($569) per tonne on Wednesday.

Traded volumes stood at 44,591 lots of 25 tonnes each at the end of trade, close to the 2015 average of 44,600.

Palm is down 1.9 percent so far this month, touching a one week low of 2,253 ringgit on Tuesday, weighed down by weakness in Chinese vegetable oils. Read More?