Palm Oil rises on strong crude oil futures

Palm oil futures edged up on Wednesday, extending gains from the previous session, as a bigger-than-expected fall in January inventories of the tropical oil in top producer Malaysia lent support.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange gained 45 ringgit, or 1.15%, to 3,946 ringgit ($825.18) by midday.

Palm is higher due to lower inventory levels in Malaysia, said Anilkumar Bagani, research head at Sunvin Group, a Mumbai-based vegetable oil brokerage.

Stronger crude oil futures typically make palm a more attractive option for biodiesel feedstock.

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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