Palm oil posts biggest gain in 3 weeks

Malaysian palm oil futures rebounded on Thursday, posting their biggest gain in nearly three weeks, as rival vegetable oils in Dalian and Chicago strengthened and a weaker ringgit supported the market.

The benchmark palm oil contract for May delivery rose 3.19% to close the afternoon trade at 4,070 ringgit ($924.58) per tonne, its best since Jan. 27.

“Prices moved up on the back of strong closing in Chicago soybean oil last night as NOPA released lower crushing,” a Kuala Lumpur-based trader said.

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.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Dekel Agri-Vision PLC

More articles like this

Dekel Agri-Vision PLC

Unlocking Africa’s fertile lands

Discover the lucrative opportunities in Africa’s palm oil business. With a growing global market demand and sustainable practices, now is the time to invest.

Dekel Agri-Vision PLC

Rebranding palm oil for a brighter future

Unlocking the potential of palm oil: Discover its value, sustainability, and potential as a premium product. Learn how Dekel Agri-Vision PLC is leading the way in West Africa

Dekel Agri-Vision PLC

Palm oil futures on the rise amid strong global market trends

Palm oil futures are seeing significant gains, driven by positive performances in the vegetable oil markets of Dalian and Chicago. This upward movement has been particularly notable on the Bursa Malaysia Derivatives Exchange, where the benchmark

Dekel Agri-Vision PLC

Dekel Agri-Vision anticipates strong palm oil season

Dekel Agri-Vision Plc (LON: DKL), the West African agriculture company focused on building a portfolio of sustainable and diversified projects, has provided a November production update for its Ayenouan palm oil project in Côte d’Ivoire (Palm Oil Operation) as

Dekel Agri-Vision PLC

Côte d’Ivoire’s Palm Oil and Cashew Success

Côte d’Ivoire, a leading player in West Africa’s agricultural landscape, has emerged as a pivotal contributor to global markets for palm oil and cashews. These two commodities, deeply rooted in the country’s rich agricultural tradition, are