Kuala Lumpur: Palm Oil rose to its highest level for over 8 months, triggered by the soaring demand for soybeans after China, the world's largest soybean importer, bought up large quantities of oil seeds from the U.S.

Contracts for May delivery rose 1.1% to 3.276 ringgit or U.S. $ 1,084 per metric ton on the Malaysia Derivatives Exchange market. Palm oil prices are trading at 3259 prices ringgit at 12:18 am Kuala Lumpur time yesterday.

Meanwhile berjangkan contract also rose 3.6% last week, which is the highest rise since 5 days ago.
Pengiriminan palm oil contract for September rose 0.8% to 8352 yuan or U.S. $ 1,327 per ton in stock Dallan Commodity Exchange. Soybean oil contract for delivery in the same go up 0.3% to 9.84 yuan per ton.

Source: Bisnis Indonesia