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Palm oil surge 4% as Russia withdraws from Black Sea export deal

KUALA LUMPUR: Malaysian palm oil futures jumped 4% on Monday, recovering from last week’s losses after Russia withdrew from a Black Sea export deal, which may hurt global grains and sunflower oil supplies.

Palm oil tracks rivals lower, posts 2.8% weekly drop

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 165 ringgit, or 4.14%, to 4,154 ringgit ($879.15) a tonne during early trade.

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Palm oil surge 4% as Russia withdraws from Black Sea export deal

Source: Brecorder

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