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PALM OIL ROSE ON PRODUCTION CONCERN, WEAKER CURRENCY - vyaparsampark.com
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Malaysian palm oil for April delivery rose by RM 55 or 1.41% to RM 3959 ($ 836.47) due to weaker ringgit, production concern due to adverse climate effect. (Production likely to lower). Weaker rival oils discouraged further rise. Malaysia’s February CPO export duty for February is at 8% and palm oil refference price has been lowered (February) RM 3571.31 per ton from RM 675.50 per ton.