MARKET DEVELOPMENT
Palm rebounds tracking rival oil strength higher, stronger exports
Palm rebounds tracking rival oil strength higher, stronger exports
21/08/2023 (Business Recorder), Singapore - Malaysian palm oil futures recovered on Monday mirroring strength in rival edible oils, while firm export data supported sentiment.
The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange was up 74 ringgit, or 1.91%, to 3,946 ringgit ($848.97) per metric ton in early trade, paring losses from the previous session.