MARKET DEVELOPMENT
Malaysia's crude palm oil rallies to record high of 4,704 RGT/T
Malaysia's crude palm oil rallies to record high of 4,704 RGT/T
06.05.2021 (www.todayonline.com) - KUALA LUMPUR, May 6 - Malaysia's crude palm oil contract for May delivery jumped to record high of 4,704 ringgit ($1,140.92) a tonne on Thursday, as a squeeze in global edible oils supplies spurred a rally in agricultural markets.
The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange paused at 4,688 ringgit a tonne during the midday break, rising nearly 2% from the previous session. REUTERS