Palm flat as El Niño fears counter rising stock levels; still poised for second weekly gain
KUALA LUMPUR: Malaysian palm oil futures traded in a tight range on Friday, as pressure from higher inventories countered concerns over El Niño’s impact on production and firmer crude oil prices. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 3 ringgit, or 0.06%, at 4,727 ringgit ($1,158.01) a metric ton by the midday break. The contract has…
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