Business Recorder (19/12/2020) - SINGAPORE: Malaysian palm oil futures rose 1.9% on Friday as traders expect another month of subdued production and rising exports. The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange climbed for a third consecutive session, closing 65 ringgit higher at 3,443 ringgit ($852.76).

"The market is anticipating negative growth in December production and improving exports," a Kuala Lumpur-based trader told Reuters. "We are also expecting January export tax to remain at zero."

Exports of Malaysian palm oil products during Dec. 1 to 15 rose 9.5% on-month to 725,380 tonnes, cargo surveyor Societe Generale de Surveillance said on Tuesday. Dalian's most-active soyaoil contract rose 2%, while its palm oil contract gained 1.6%.

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