Malaysian palm oil futures ticked up on Tuesday after range-bound trade, supported by strength in rival edible oils, although poor demand and expectations of declining production kept the contract near a two-week low.
The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange rose 5 ringgit, or 0.13%, to 3,896 ringgit ($834.26) per metric ton at closing.
The contract opened higher but was quickly seen retracing in negative territory as the absence of fresh buying continued to hurt overall sentiment, said Anilkumar Bagani, research head at Sunvin Group, a Mumbai-based vegetable oil brokerage.
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.
