(Bloomberg) -- Palm oil futures in Malaysia, the
benchmark for the commodity, reversed earlier losses and rose to
a five-week high after the price of soybean oil, the main
substitute, soared to a 23-year high.
Palm oil for September delivery, the most actively traded
contract on the Malaysia Derivatives Exchange, rose 31 ringgit,
or 1.2 percent to 2,615 ringgit ($756) a metric ton.
Read more at Bloomberg Commodities News
benchmark for the commodity, reversed earlier losses and rose to
a five-week high after the price of soybean oil, the main
substitute, soared to a 23-year high.
Palm oil for September delivery, the most actively traded
contract on the Malaysia Derivatives Exchange, rose 31 ringgit,
or 1.2 percent to 2,615 ringgit ($756) a metric ton.
Read more at Bloomberg Commodities News
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