KUALA LUMPUR: Malaysian palm oil futures on Thursday extended gains for a second session, buoyed by stronger soyoil and technical buying, said traders.
The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange was up 0.7 percent at 2,715 ringgit ($643.98) a tonne at the midday break, posting its biggest daily percentage gain since Oct. 4. Traded volumes stood at 15,117 lots of 25 tonnes each at the midday break on Thursday.
The rise in palm prices was supported by gains in soyoil futures on the Chicago Board of Trade and China´s Dalian Commodity Exchange, a trader said. The December soybean oil contract on the Chicago Board of Trade rose as much as 0.4 percent, while the January soybean oil contract climbed up to 0.1 percent.
A trader can be seen at the Pakistan Stock Exchange building in Karachi. — PPI/FilesKARACHI The Pakistan Stock...
Engro Fertilizers Limited plant can be seen in this undated image. — LinkedIn/Engro Fertilizers Limited KARACHI:...
A representational image of a chemist looking for medicines in his store. — AFP/FileLAHORE: The Pakistan...
This image shows the SRB logo on a wall inside the building. — Facebook/Sindh Revenue Board, Government of...
This image shows the Logo of UBL at the building. — Facebook/UBL - United Bank Ltd/FileKARACHI: United Bank Limited...
IMF headquarters in Washington. — AFP/FileWASHINGTON: The International Monetary Fund urged countries on Wednesday...
