Palm oil recovers from four-month low
Malaysian palm oil futures recovered late on February 28, tracking stronger prices after hitting their lowest level in nearly four months earlier in the day. Benchmark palm oil futures for May on the Bursa Malaysia Derivatives Exchange ended the session 0.6 percent higher at 2,770 ringgit ($624) a metric ton. Earlier, they fell to 2,723 ringgits, their weakest level since November 2. Palm oil has posted two consecutive weeks of declines, shedding 8.6 percent as output is seen rising and export demand remains weak. Traded volumes stood at 80,222 lots of 25 metric tonnes each.
