皇冠博彩app（www.hg9988.vip）_Palm oil rebounds on China demand optimism
,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.皇冠博彩app（www.hg9988.vip）是皇冠博彩公司官方投注网，开放皇冠博彩app下载、信用网现金网代理会员开户，线上博彩的官方平台。
KUALA LUMPUR: Palm oil posted its biggest advance in two months on bargain hunting and optimism 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