Palm oil futures in Malaysia advanced for a fourth day yesterday, gaining as much as 2.1 percent to 3,367 ringgit ($1,114) a ton and ending at 3,360 ringgit on speculation that China and India, the largest consumers, may start to replenish inventories.
Exports from Malaysia, the second-biggest producer, climbed 28 percent to 533,419 tons in the first 15 days of May from the same period in April, independent surveyor Intertek said May 16. Shipments rose 33 percent to 601,984 tons, rival Societe Generale de Surveillance estimated. Stockpiles of cooking oils in India, including those at ports, totaled 1.27 million tons on May 1, down from 1.34 million tons on April 1, the Solvent Extractors’ Association said May 13. source: DJW '+'
