Malaysian palm oil futures climbed for a second straight session on Tuesday, lifted by strength in crude oil futures and as surveys indicated tight end-March inventories in the world’s second largest producer.
The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange rose 146 ringgit, or 2.57%, to 5,838 ringgit ($1,385.71) a tonne by the midday break.
The overall commodity market is seen to be moving in bullish direction as of now, as stronger crude oil will support higher palm oil prices, said Mohsin Mohammad, director at Selangor-based cooking oil exporter Sarafiah Natural Resources.
Dekel Agri-Vision PLC (LON:DKL) aspires to become a leading agro-industrial company in West Africa, one that creates value for shareholders whilst at all times placing the interests of the local communities and environment in which it operates in at the heart of its operations.
