Palm oil rises on profit-taking

Malaysian palm oil futures edged higher on Friday on a weaker ringgit and profit-taking ahead a long weekend, but they still posted weekly losses.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange rose 97 ringgit, or 2.59%, to 3,848 ringgit ($904.14) a tonne by the end of trading hours on Friday. The contract declined 1.38% for the week.

“Since coming Monday is a holiday, market may wish to book profit while waiting for fresh lead next week,” 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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