CPO over two months high on crude gains, low stocks in India, China

  • 📰 staronline
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 75%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

SINGAPORE: Malaysian palm oil futures hit their highest level in more than two months on Friday, riding on gains in crude oil prices as well as lower stocks in top importers India and China.

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange jumped 2.2% to 2,420 ringgit a tonne by midday, its highest since March 31.

That supported palm prices, a Kuala Lumpur-based trader said. Stronger crude prices make palm an attractive option for biodiesel feedstock. Lower stocks in top importers India and China, as well as anticipation of lower-than-expected growth in Malaysia and Indonesia also propped up prices.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 4. in SE

Sverige Senaste nytt, Sverige Rubriker