Palm oil futures firmed on Wednesday, as crude rose and the ringgit fell, but higher production outlook and weakness in rival soyoil prices pressured the market.
The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange gained 20 ringgit, or 0.51%, to 3,950 ringgit ($956.88) a tonne in early trade, extending two days of sharp gains.
Palm oil is entering the seasonal higher production months with the Malaysian Palm Oil Association estimating a 20% monthly rise in output during March 1-20, traders 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.
