Palm oil recovers on strength in Dalian rival oils
Malaysian palm oil futures rebounded on Thursday after hitting a 17-week low. The January contract rose 12 ringgit, or 0.29%, to 4,120 ringgit ($975) per ton, supported by gains in rival edible oils on China’s Dalian exchange. The contract had closed 0.82% lower in the previous session.
JAKARTA: Malaysian palm oil futures bounced back on Thursday after ending at a 17-week low in the previous session, supported by strength in rival edible oils on the Dalian exchange.
The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 12 ringgit, or 0.29%, to 4,120 ringgit ($975.38) a metric ton, as of 0231 GMT.
The contract ended 0.82% lower on Wednesday.
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Source : Business Recorder
