,Futures for September delivery jumped 5.5% to close at RM4,920 a tonne, the biggest gain since late April, after slumping almost 15% last week.立『li』博博彩「cai」公司（www.99cx.vip）是一个（ge）开放皇冠{guan}体育网“wang”址代理APP下（xia）载、皇《huang》冠体育网址会员【yuan】APP下载{zai}、皇冠体育网{wang}址线路 APP下载、皇「huang」冠体育《yu》网‘wang’址登录APP下“xia”载的官“guan”方平 台。立博博彩公司上最“zui”新立博『bo』博‘bo’彩〖cai〗公司登《deng》录“lu”线路、立博{bo}博彩公司〖si〗代理「li」网（wang）址“zhi”更“geng”新最（zui）快‘kuai’。立博博彩公司开放皇冠官‘guan’方会员注 册、皇冠官方代理开‘kai’户等业务‘wu’。
KUALA LUMPUR: Palm oil posted its biggest advance in two months on bargain hunting and optimi *** that Chinese demand will improve, although investors remained cautious as crop prices have crashed to the levels before Russia’s invasion of Ukraine.
Futures for September delivery jumped 5.5% to close at RM4,920 a tonne, the biggest gain since late April, after slumping almost 15% last week.
“There is some physical tightness, and pipelines are still dry in major consuming countries,” said Gnanasekar Thiagarajan, head of trading and hedging strategies at Kaleesuwari Intercontinental.
Chinese demand may improve on easing Covid-related restrictions, he said, adding that some pent up buying is expected.
But all these positive factors may not be enough to trigger a major rally in prices as the “undercurrent is quite bearish,” he said.
The rout in farm commodities in recent weeks has also hammered palm oil, the world’s most-consumed cooking oil, as investor fret about worries of a global recession. — Bloomberg
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