{
  "id": 17220848,
  "title": "Palm gains over 1% on bargain buying; posts fourth monthly rise in 5 months",
  "url": "https://urgent.news/2026/10/30/palm-gains-over-1-on-bargain-buying-posts-fourth-monthly-rise-in-5",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-30T10:57:14.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40446686/palm-gains-over-1-on-bargain-buying-posts-fourth-monthly-rise-in-5-months"
  },
  "original_language": "en",
  "account": "Malaysian palm oil futures surged over 1% on Friday, marking their fourth monthly gain in five months. This upward trend was driven by bargain buying and the influence of higher crude oil prices, along with robust export demand. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange climbed 66 ringgit, or 1.43%, to 4,682 ringgit ($1,155.19) per metric ton at the close. Despite concerns over potential stockpile increases, palm oil futures experienced a bounce back following a recovery in Dalian palm olein and Chicago soyoil during Asian trading hours. Anilkumar Bagani, head of research at Sunvin Group, noted that the market's attention is now turning towards Malaysia's October full-month palm oil export and production data, as well as the anticipated rise in stock levels. Palm oil prices are closely monitored as they compete for a share of the global vegetable oils market, and the commodity is seen as an attractive option for biodiesel feedstock due to the surge in crude oil prices. Additionally, the strengthening of the Malaysian ringgit against the US dollar, up 0.07%, made palm oil more costly for buyers utilizing foreign currencies.",
  "summary": "KUALA LUMPUR: Malaysian palm oil futures closed more than 1% higher on Friday, booking a fourth monthly rise in five, as bargain buying and firmer Dalian palm olein and Chicago soyoil supported prices. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 66 ringgit, or 1.43%, to 4,682 ringgit ($1,155.19) a metric ton at the close. The contract…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}