Malaysian palm oil futures gained on Friday for a second consecutive session, as easing recession concerns boosted edible oil prices, but the contract is set for a sharp weekly drop.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange rose 72 ringgit, or 1.74%, to 4,212 ringgit ($952.08) a tonne by the midday break.
“Palm futures sustained the gains from yesterday spurred by bargain buying and a solidly higher Dalian market,” 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.
