Palm oil climbs 4.5%

Malaysian palm oil futures rallied for a second straight day on Tuesday, on concerns over global supplies after Russia suspended a Black Sea export agreement.

The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives Exchange gained 183 ringgit, or 4.51%, to 4,237 ringgit ($895.77) a tonne during early trade.

FUNDAMENTALS

* Indonesia has extended until the end of this year its policy of waiving a palm oil export levy, unless the palm oil reference price breaks $800 per tonnes, the economic ministry said on Monday.

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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