Malaysian palm oil futures on Tuesday rose for a fifth straight day to close at a 10-year high, as it tracked a rally in crude and soyaoil futures. The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange closed up 40 ringgit, or 1.03%, to 3,918 ringgit ($952.13) a tonne, its highest since Feb. 14, 2011.
Palm is rising on continued strength in soyaoil, but its rise is lagging those of its rivals because of weaker fundamentals, a Kuala Lumpur-based trader said.
Traders are awaiting official February supply and demand data, as well as cargo surveyor export data due on Wednesday.
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.
