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Palm Oil Climbs on Higher Exports and Indian Demand Expectations

Palm Oil Climbs on Higher Exports and Indian Demand Expectations
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Palm Oil Climbs on Higher Exports and Indian Demand Expectations Palm oil advanced on rising Malaysian exports and expectations of better demand from the biggest buyer India as festival season nears. Benchmark futures rose toward 4,600 ringgit ($1,122) a ton on Bursa Malaysia Derivatives, paring a weekly loss. Malaysian exports rose 11% in the first 25 days of June compared with the previous month, including higher shipments to India, according to Intertek Testing Services.

Palm Oil Climbs on Higher Exports and Indian Demand Expectations Palm oil advanced on rising Malaysian exports and expectations of better demand from the biggest buyer India as festival season nears. Benchmark futures rose toward 4,600 ringgit ($1,122) a ton on Bursa Malaysia Derivatives, paring a weekly loss. Malaysian exports rose 11% in the first 25 days of June compared with the previous month, including higher shipments to India, according to Intertek Testing Services. Data from another surveyor, Amspec Agri, also showed exports increased by a similar amount.
Palm Oil Climbs on Higher Exports (ORG) Indian (ORG) Malaysian (ORG) India (LOCATION) Bursa Malaysia Derivatives (ORG) Intertek Testing Services (ORG) Amspec Agri (PERSON)
Originally published by Bloomberg Markets Read original →