as declared in The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was down 0.2 percent to 2,189 ringgit ($539.96) a tonne at the midday break. Palm oil output typically starts to pick up on a seasonal basis in the second half of the year, but industry players are divided on when production would peak. In other related oils, the Chicago December soybean oil contract rose 0.1 percent, while the September soybean oil contract on China's Dalian Commodity Exchange was up 0.5 percent. Meanwhile, the Dalian September palm oil contract gained 0.2 percent. Palm oil prices are usually impacted by the performance of other edible oils as they compete for a share in the global vegetable oils market.
collected by :Frank Ithan
Malaysian palm oil price hits 3-year low, before rebounding - Business News
The Chicago December soybean oil contract gained 0.9 percent on Tuesday, and was last up 0.1 percent. A rise in palm oil exports was supportive for palm, the trader added, but cautioned that further gains could be capped by concerns about rising production in line with seasonal trends. Exports of Malaysian palm oil products for July 1 to 25 rose 5 percent versus the corresponding period last month, inspection company AmSpec Agri Malaysia said on Wednesday. In other related oils, the September soybean oil contract on China's Dalian Commodity Exchange was up 0.2 percent, while the Dalian September palm oil contract rose 0.4 percent. Palm oil prices are usually affected by the performance of other edible oils as they compete for a share in the global vegetable oils market.Ringgit strengthens against US$ on higher oil price - Business News
according to KUALA LUMPUR: The ringgit carried on Wednesday's positive momentum to be higher against the US dollar early Thursday, as market players opined that the biggest currency beneficiaries post-European Union-US trade announcement have been the commodity-linked and carry-trade riskier currencies. OANDA Head of Trading in Asia-Pacific, Stephen Innes said with the oil prices back on the up, the local currency should trade with a positive bias in Thursday's session. At 9 am )0100 gmt), the local note was quoted at 4.0480/0510 versus the greenback from Wednesday's close of 4.0530/0580. "However, exuberance will likely be tempered by all the unknowns surrounding the US-China trade dispute," he added. The ringgit, meanwhile, traded lower against major currencies.collected by :Frank Ithan
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