Malaysian palm oil futures rose on Friday after tumbling to a 14-month closing low in the previous session, although the contract is set for a second straight weekly drop.
The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange gained 92 ringgit, or 2.6%, to 3,633 ringgit ($808.32) a tonne by the midday break.
Palm rebounded on bargain-buying after a heavy sell-off in the last few days, propelled by gains in competing vegetable oils, led by Chicago soy oil, said Sathia Varqa, co-founder of Singapore-based Palm Oil Analytics.
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.
