Palm oil on the European vegetable oils market firmed on Monday, supported by higher Malaysian futures, amid very thin activity as many participants took off the day before Christmas or worked a half day. Markets will be closed for Christmas on Tuesday, December 25 and Wednesday, December 26. December 27 will be a regular working day.
Palm oil was offered between $10 and $15 a tonne up, after Malaysian palm oil futures closed between 13 and 88 ringgit per tonne up on expectations demand will improve next year. Malaysian palm oil futures climbed to a near one-month high on Monday as investors pinned hopes on next year's tight supply of competing soyoil shifting food demand to the tropical oil. April/June RBD palm olein traded $20 up between $847.50 and $855 a tonne fob Malaysia.
Comments
Comments are closed.