JAKARTA/KUALA LUMPUR: Malaysian palm oil futures closed higher on Thursday following news of a jump in India’s imports, while market participants awaited fresh trading cues.
The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange rose 26 ringgit or 0.68%, to end the session at 3,844 ringgit ($808.92).
Palm oil imports in India, the world’s biggest importer of vegetable oils, jumped 41% in April from the previous month to the highest level in three months as easing prices prompted refiners to increase purchases, five dealers told Reuters.
“Bursa Malaysia crude palm oil contract is awaiting new…