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Vegoils: Palm recovers as traders buy at low prices, ahead of festive period

Reuters  |  KUALA LUMPUR 

By Liz LeeKUALA LUMPUR (Reuters) - Malaysian palm oil futures rose on Thursday, pulling back from a more than 22-month low hit in the previous session, as traders took the opportunity to buy at low prices ahead of Eid festivities during the weekend.The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was up 0.8 percent at 2,336 ringgit ($586.20) per tonne, after logging eight straight sessions of falls.It fell to as low as 2,300 ringgit on Wednesday, its lowest since July 28, 2016.Trading volumes stood at 20,276 lots of 25 tonnes each.Traders were ...

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First Published: Thu, June 14 2018. 11:00 IST