Palm oil and rubber prices rise as floods in M'sia, Thailand hit supplies
Add BT as a preferred sourceKuala Lumpur
PALM oil and rubber prices advanced as flooding in Malaysia and Thailand disrupted supplies from South-east Asia, and forecasters said that further heavy rain over the next few days will probably exacerbate the situation.
Palm oil for March delivery jumped 1.6 per cent to RM2,286 (S$865) a tonne on Bursa Malaysia Derivatives, the highest closing price for a most-active contract since Nov 4. The benchmark price for the edible oil rose for an eighth day, the longest rally since 2010. Rubber climbed for a third day on the Tokyo Commodity Exchange and traded near a four-month high.
TRENDING NOW
Singapore at 61: How we can ensure opportunity, security and ownership for the next generation
With tech for fact-checking to cancer care, Singapore startups aim beyond home
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Why Asean matters more than ever to the UK and Singapore
