Crude palm oil futures in Malaysia seen opening higher

Singapore street scene in Tanjong Pagar neighborhood, including the Carlton City and Oasis Hotel buildings; taken 31 August 2018.Singapore street scene in Tanjong Pagar neighborhood, including the Carlton City and Oasis Hotel buildings; taken 31 August 2018.

Crude palm oil prices in Malaysia are seen higher on a slight gain for exports last month.

Bursa Malaysia front-month palm oil futures for November rose 1.4 percent to 2,248 ringgit ($547.22) a metric ton on volumes of 42,591 lots of 25 metric tons each. Markets in Malaysia will be closed for a national holiday on Friday.

Exports of Malaysian palm oil products for August rose 4 percent to 1.07 million metric tons from 1.03 million metric tons shipped in July, according to AmSpec Agri Malaysia data released on Friday.

Meanwhile, Indonesia is set to begin a program to use more biofuels in diesel that is expected to boost overall edible oil demand domestically.

Get Shenton Wire headlines in your inbox