Malaysian palm oil futures closed at a five-week high on Tuesday, rebounding from two days of decline amid supply concerns and inclement Indian weather prompting higher imports of edible oils.
The benchmark palm oil contract FCPOc3 for May delivery on the Bursa Malaysia Derivatives Exchange rose 51ringgit or 1.3% at 3,989 ringgit ($842.81) a metric ton, its highest since Jan. 29.
Malaysia’s palm oil stocks are expected to drop below 2 million tons for the first time in six months at the end of February, with output likely to drop for a fourth consecutive month, a Reuters survey showed 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.current May contract,” said Chandran S, futures broker at Kuala Lumpur-based CGS International.
