date:Mar 07, 2014
close at 2,863 ringgit ($878), a 1.2 percent increase from the previous session.
The Malaysian palm oil markets which set the tone for global prices, are on track for a fifth straight week of gains. Total traded volume stood at 33,033 lots of 25 tonnes, slightly below the average 35,000 lots. Technicals show that Malaysian palm oil prices could peak around a resistance at 2,883 ringgit per tonne, Reuters market analyst Wang Tao said. Malaysian palm oil stocks likely dropped to a five-month low