Palm oil advanced for a fourth day as Malaysian production dropped and exports soared.
The tropical oil rose 1.4% to close at 4,392 ringgit per ton in Kuala Lumpur, capping the longest streak of gains in two months. Rival soybean oil added 0.4% in Chicago.
Palm oil is bolstered by data showing that production from Malaysia’s southern peninsula shrank 25% in the first five days of September from the previous month, said Anilkumar Bagani, research head of Mumbai-based Sunvin Group. Expectations of improving exports also aided sentiment, he added.
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.
