Palm Oil Soars as Weaker Ringgit, India Demand Buoy Sentiment
Malaysian palm oil futures surged 2.5% to around MYR?4,650 per tonne, snapping recent declines as a weaker ringgit and firmer crude oil prices boosted competitiveness. Gains in rival edible oils on China’s Dalian exchange also lifted sentiment as markets reopened after Golden Week. In India, buyers secured about 150,00