Malaysian palm oil futures rose on Friday on an increase in soyoil and the transition of May contract to the benchmark, narrowing the discount to the April contract, although weak exports capped the upside.
The benchmark palm oil contract FCPOc3 for May delivery on the Bursa Malaysia Derivatives Exchange was up 20 ringgit, or 0.52%, at 3,841 ringgit ($804.40) by midday break, after falling 1.8% on Thursday.
“Today, the May contract became the new benchmark. Futures increased to bridge the difference between the old benchmark contract for April and the
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.
