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Malaysian palm oil futures posted a second straight monthly gain in October, rising 9.31% after an 8.02% rise in September. The benchmark January contract closed up 1.91% at 5,023 ringgit per tonne on the final day of the month.
Traders said the Malaysian market remained tight on supply and that rival vegetable oils also rallied.
Persistent tight supply and firm rival oil prices support palm oil values, which are a key benchmark for competing feed fat and oilseed products.
brecorder.comReutersOct 29, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
