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The benchmark March 2020 palm oil contract on Bursa Malaysia Derivatives rose RM22 to RM3,027 per tonne on December 27, a two-year high. Sarawak plantation stocks also climbed to multi-year highs as crude palm oil futures rallied from mid-October levels of about RM2,214.
Lower production data and fears of a supply shortfall continue to lift palm oil futures, which in turn support plantation equities. Price momentum in palm oil tends to influence competing vegetable oil prices.
sarawaktribune.comAlvin TangDec 28, 2019Not 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.
Benchmark futures at a two-year high on Dec 27 show the momentum building into the 5-day window, though it falls slightly before the window's start.
