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Palm oil posts over 3% weekly gains
JAKARTA: Malaysian palm oil futures climbed on Friday, supported by bargain buying and strong export demand as cargo surveyors reported higher shipments in the first half of October. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 44 ringgit, or 0.93%, to 4,769 ringgit ($1,169.16) a metric ton at the close. The futures posted a 3.85% weekly gain. India’s palm oil imports in September jumped to a seven-month high as refiners favoured it over sunflower oil. “The CPO futures were seen trading higher today on some bargain buying. Additionally,...
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