Palm oil advanced to the strongest level since March 25, buoyed by robust shipments from second-biggest grower Malaysia before the Ramadhan festival, and a rally in soybean oil futures.
Exports advanced about 11% from a month earlier to 184,070 tonnes in the first five days of April, according to data from Intertek Testing Services. That’s after shipments from Malaysia probably jumped about 29% in March, a Bloomberg survey of analysts, traders and plantation executives showed.
The market will be running on bullish sentiment this week as expanding exports could reduce stockpiles in Malaysia, said Christopher Andre Benas, an analyst at RHB Sekuritas in Jakarta.
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.