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EN
Palm snaps two consecutive sessions of losses, as export data lifts the market
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World Energy News
The market for Malaysian palm oil futures ended two sessions of declines in a row on Monday as Dalian palm olein and Chicago soyoil rallied on the back of encouraging export data.
A Kuala Lumpur-based broker said that the prices of crude palm oil rebounded after positive export figures for Chicago soyoil, Dalian palm olein and Dalian palm oil.
Exports of Malaysian Palm Oil Products for the period September 1-20 increased between 8.3% to 8.7% in comparison with a similar period one month earlier.
Dalian's palm oil contract, which is the most active contract in Dalian, gained 0.21%.
Palm oil is a better option as a biodiesel feedstock because crude oil futures are stronger.
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