Malaysian palm oil futures closed higher, supported by geopolitical risks and concerns over weather conditions
智通财经2026/08/19 10:26Show original
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- The Malaysian Exchange derivatives market’s November palm oil contract rose by 33 ringgit, closing at 4,893 ringgit per ton, continuing its recent strong trend.
- Kenanga Futures analysts pointed out that market concerns over the El Niño phenomenon potentially causing a decline in crude palm oil production have provided some support to prices, with supply-side uncertainty impacting trading sentiment.
- Meanwhile, ongoing geopolitical tensions in the Middle East continue to attract market attention. Institutions also regard this as a potential driver for higher palm oil prices, with risk aversion sentiment spreading into the agricultural product markets.
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