Palm climbs 2% on global edible oil supply worries

Malaysian palm oil futures rose 2% on Wednesday after two straight sessions of declines, as dry weather in the U.S. and Canadian crop belts and reduced crop expectations in South America stoked worries over global edible oil supply.

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange gained 77 ringgit, or 1.98%, to 3,968 ringgit ($962.17) a tonne by the midday break.

Price gains were limited by expectations of lower domestic consumption due to a two-week lockdown, with sluggish exports in May further hurting demand prospects.

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.

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