Palm tracks rival oil higher, heads for weekly gain

JAKARTA: Malaysian palm oil futures rebounded on Friday after two days of losses, as the benchmark contract tracked a recovery in related oils, and headed for a modest gain for the week.

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange rose 1.85% to 4,016 ringgit ($913.77) per tonne in early trade.

It lost 3.33% over the previous two days.

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For the week so far, it is up 1.70%.