Malaysian palm oil futures surged more than 4 percent on Monday to its highest closing in nearly three weeks, as forecasts of a sharper decline in April output triggered production concerns.
The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange closed up 157 ringgit, or 4.36%, to 3,758 ringgit ($847.35) a tonne.
Palm extended gains to a fourth consecutive session, marking its highest closing since April 18.
The Malaysian Palm Oil Association (MPOA) forecast an 8.3% month-on-month decline in April production, traders said, sparking concerns of a steeper than expected production cut.
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.
