Malaysian palm oil futures extended gains on Friday to reach its strongest level in nearly two years, tracking competing vegetable oils and a weaker ringgit.
The palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange rose 1.6 percent at 2,639 ringgit per tonne after hitting an intraday high of 2,642 ringgit, its highest since April 30, 2014.
Traded volume stood at 52,046 lots of 25 tonnes each.
"Palm rose in unison with overnight gains in rival soyoil and short-covering," said a trader based in Kuala Lumpur.
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The palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange rose 1.6 percent at 2,639 ringgit per tonne after hitting an intraday high of 2,642 ringgit, its highest since April 30, 2014.
Traded volume stood at 52,046 lots of 25 tonnes each.
"Palm rose in unison with overnight gains in rival soyoil and short-covering," said a trader based in Kuala Lumpur.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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