{
  "id": 5547241,
  "title": "Palm ends higher on El Nino worries; logs weekly gain",
  "url": "https://urgent.news/2026/09/04/palm-ends-higher-on-el-nino-worries-logs-weekly-gain",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-04T11:20:38.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40437944/palm-ends-higher-on-el-nino-worries-logs-weekly-gain"
  },
  "original_language": "en",
  "account": "Malaysian palm oil futures surged on Friday, recording a weekly increase, as worries about El Niño's potential effect on production bolstered prices. The benchmark November palm oil contract on the Bursa Malaysia Derivatives Exchange surged 27 ringgit, or 0.55%, to 4,931 ringgit ($1,220.24) per metric ton by the close of trading. This marked a 0.76% gain for the week, reversing the losses from the prior period. David Ng, a proprietary trader at Kuala Lumpur-based trading firm Iceberg X Sdn Bhd, attributed the rise to ongoing concerns about output in the medium term due to El Niño weather conditions affecting both Malaysia and Indonesia. The most-traded soyoil contract in Dalian fell 0.19%, while its palm oil counterpart slipped 0.39%. Soyoil prices on the Chicago Board of Trade decreased 0.46%. As palm oil mirrors the performance of other edible oils, competing for a slice of the global vegetable oils market, oil prices dipped but remained on track for a weekly gain. Heightened concerns over Middle East supply risks, triggered by escalating tensions between the U.S. and Iran, contributed to the easing of oil prices. However, weaker crude oil futures render palm oil a less appealing choice for biodiesel feedstock. Indonesian state-owned plantation company Agrinas Palma Nusantara aims to produce 1.5 million tons of palm oil next year, but its efforts to gain control over global prices by establishing a new commodities exchange are likely to face challenges from established bourses and may backfire if mandatory participation is enforced.",
  "summary": "KUALA LUMPUR: Malaysian palm oil futures climbed on Friday and logged a weekly gain, as worries over El Niño’s potential impact on production supported prices. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange gained 27 ringgit, or 0.55%, to 4,931 ringgit ($1,220.24) a metric ton at the close. The contract gained 0.76% this week, recovering from the…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Business Recorder",
        "title": "Palm rises on firmer rival Dalian, crude; set for weekly gain",
        "url": "https://urgent.news/2026/09/04/palm-rises-on-firmer-rival-dalian-crude-set-for-weekly-gain",
        "published": "2026-09-04T06:27:21.000Z"
      }
    ]
  },
  "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."
}