Malaysian palm oil jumps
Malaysian crude palm oil futures jumped more than 4 percent in early trade on Monday, driven by supply worries stoked by floods in some palm growing states in the country and rising soyaoil prices in China.
The Star Local palm oil stocks hit a new record at 2.63 million tonnes at end-December 2012, contrary to market expectation that stocks would be reduced following Malaysia's decision to lower its crude palm oil export duty regime to between 4.5% and 8.5% from 23% previously.