Palm Oil Ends Higher in Asian Session, Supported by Firm Rivals and Export Optimism

Palm oil closed higher during the Asian trading session.

In a report, an institution noted that prices may be supported by strength in competing edible oils and improved optimism over export demand in early October.

However, the institution stated that concerns over ample tropical oil supply ahead of the weekend could cap gains.

On the Bursa Malaysia Derivatives Exchange, the January delivery contract rose approximately 44 ringgit to 4,769 ringgit per metric ton.

Going forward, attention will focus on whether export demand can sustain, as well as the further impact of supply-side factors and trends in competing oils on palm oil prices.