Daily Archives: October 3, 2024

Palm rises more than 4% in biggest jump in over a year on stronger oil, soyoil

Malaysian palm oil futures jumped more than 4% on Wednesday, driven by gains in crude oil prices and Chicago soyoil. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange rose 190 ringgit, or 4.74%, at 4,196 ringgit ($1,006.72) a metric ton at the close, its highest daily gain since July…

Rising CPO Prices Affected By Increased Demand From India

The Ministry of Trade (Kemendag) noted an increase in the reference price (HR) of palm oil (CPO) commodities which was influenced by the large demand from India and China which was not matched by the amount of production. The Director General of Foreign Trade of the Ministry of Trade, Isy Karim, said that HR CPO…