Malaysian palm oil futures rose for a second session in four on Friday as better performing rival soy oil gave the market a late boost even though a stronger ringgit weighed on prices earlier in the day.
Benchmark palm oil futures for September delivery on the Bursa Malaysia Derivatives Exchange were 0.3 percent higher at 2,359 ringgit ($590) per tonne at the close of trade, recording a fourth straight weekly fall.
Traded volumes stood at 28,711 lots of 25 tonnes each on Friday, lower than the 2015 average of 44,600.
"Now palm is up tracking external markets," a trader said of the evening trade, after it fell earlier on a stronger ringgit.
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Benchmark palm oil futures for September delivery on the Bursa Malaysia Derivatives Exchange were 0.3 percent higher at 2,359 ringgit ($590) per tonne at the close of trade, recording a fourth straight weekly fall.
Traded volumes stood at 28,711 lots of 25 tonnes each on Friday, lower than the 2015 average of 44,600.
"Now palm is up tracking external markets," a trader said of the evening trade, after it fell earlier on a stronger ringgit.
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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