Trader: Palm oil prices rose, boosted by expectations of declining inventory.

Iceberg X trader David Ng, headquartered in Kuala Lumpur, said that palm oil prices are higher due to expectations of decreasing inventory levels. He added that investors are also anticipating stronger export demand in the coming weeks. The trader believes that the price support level is above 4,200 Malaysian Ringgit per ton, with resistance at 4,350 Ringgit. The Malaysian Derivatives Exchange's April contract closed up 7 Ringgit at 4,222 Ringgit per ton.