Palm oil edges up, set for fourth weekly rise on supply concerns

KUALA LUMPUR: Malaysian palm oil futures ticked up on Friday, setting it on course for a fourth weekly rise on robust July exports so far and concerns over Black Sea supplies.

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange gained 19 ringgit, or 0.47%, to 4,065 ringgit ($893.21) a metric ton during early trade, its highest since March 14.

Palm oil rallies to four-month high

For the week, palm has risen 4.4% so far.