Archive · Business Recorder
Palm climbs to two-week high as El Niño supply fears outweigh stocks
KUALA LUMPUR: Malaysian palm oil futures reversed earlier losses to hit a more than two-week high on Tuesday, as concerns over tighter supplies next year — due to El Niño and growing biodiesel demand — outweighed pressure from currently high stockpiles. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange rose 45 ringgit, or 0.97%, to 4,682 ringgit ($1,146.43) a metric ton, the highest closing price since September 24. The bearish September stocks are already reflected in the market as it had already weakened before and after the release of the Malay...
ZAZTEK archives the headline, summary and publication date so the story stays findable. The full article remains the publisher's. Read it at Business Recorder →