VEGOILS-Palm set for best week in 5-1/2 years on tight stockpile, strong soyoil

VEGOILS-Palm set for best week in 5-1/2 years on tight stockpile, strong soyoil

Today·2021-03-12 13:06

KUALA LUMPUR, March 12 - Malaysian palm oilfutures looked set on Friday to post their best week in nearlyfive-and-a-half years, as prices rose for an eighth straightsession and hit a fresh 13-year high on the back of tightinventories and strength in rival soyoil.

The benchmark palm oil contract for March deliveryon the Bursa Malaysia Derivatives Exchange rose 61 ringgit, or1.5%, to 4,121 ringgit a tonne by 0351 GMT.

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