Palm oil rallies over 3%

Malaysian palm oil futures jumped more than 3% on Tuesday, set to end a three-session decline on a weaker ringgit, improving exports and strength in rival edible oils.

The benchmark palm oil contract FCPOc3 for October delivery on the Bursa Malaysia Derivatives Exchange was up 115 ringgit, or 3.11%, to 3,809 ringgit ($823.21) per metric ton by the midday break.

The market is seeing an upside correction after a few days of lackluster trading that caused a widening of the price spread between bean oil and palm oil, 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.

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