Palm Rises on Supply Worries from Floods

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

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