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Palm rises more than 1% on stronger rival oils, crude oil

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By Reuters
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KUALA LUMPUR: Malaysian palm oil futures opened more than 1% higher on Tuesday as trading resumed after a long holiday weekend, with stronger rival oils and crude oil prices supporting the market.

The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange gained 68 ringgit, or 1.55%, to 4,448 ringgit ($1,057.79) a metric ton in early trade.

The contract fell 2.41% in the last two sessions.

The market was closed on Monday for a holiday.

Palm Oil

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