Palm Oil Futures Experience Uptick in Malaysia

JAKARTA: Palm oil futures in Malaysia saw an increase on Thursday, recovering from their lowest closing value since October 1. This boost was fueled by the strength of competing vegetable oils and a decrease in the ringgit’s value.

Benchmark Contract Details

The benchmark palm oil contract, set for July delivery on the Bursa Malaysia Derivatives Exchange, increased by 25 ringgit, which is approximately 0.62%. This brought the price to 4,040 ringgit ($915.89) per metric ton as of 0232 GMT.