The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 0.4% at 2,067 ringgit ($501.94) per tonne at the close of trade, its fifth consecutive session of gains. It earlier rose 0.7% to 2,073 ringgit, its strongest level since June 7. Palm is also up 4.8% for the week in a second week of gains.
KUALA LUMPUR: Malaysian palm oil futures rose on Monday, shadowing higher U.S. soyoil prices on the Chicago Board of Trade (CBOT), while a softer ringgit also supported.
The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was up 0.8% at 2,035 ringgit ($487.19) per tonne at the day's close.
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