KUALA LUMPUR: Malaysian palm oil futures rose for a third straight session on Monday, tracking stronger rival soyoil, supported by expectations of weak January stocks and lower production.
The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange gained 8 ringgit, or 0.24%, at 3,383 ringgit ($832.84) a tonne during early trade.
The contract fell 3.3% last week.
Investors are now eyeing official January supply and demand data, as well as February 1-10 export data, scheduled to be released on Wednesday.
Comments
Comments are closed.