Malaysian crude palm oil futures rose more than four per cent in early
today’s trade, driven by supply worries due to floods in some palm oil
grower states and China.
Palm futures on the Bursa Malaysia Derivatives Exchange were up 4.8 per cent to RM3,346 (US$1,084) a tonne.
The Malaysian palm oil market rose after strong gains in Dalian soyoil and RBD palm oil in prices on Friday.
Today,
The most active soyoil on China’s Dalian Exchange rose 3 per cent to
10,242 yuan (US$1,536) after going as high as 10,476 yuan — the highest
since July 24, 2008. (US$1=3.087 Malaysian Ringgit) – Reuters
Source : Business Times
