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Palm climbs over 3% on Indian demand, duty waiver expectations
KUALA LUMPUR: Malaysian palm oil futures climbed more than 3% on Thursday, recovering from two straight sessions of losses, as robust demand from top buyer India outweighed concerns over rising stockpiles, which the market had already priced in. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange gained 139 ringgit, or 3.07%, to 4,663 ringgit ($1,140.66) per metric ton at the close. India bought 150,000 tons of crude palm oil in just three days this week for November and December delivery as its sunflower oil shipments from the Black Sea were disrup...
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