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Palm oil on track for second weekly gains

  • The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange gained 25 ringgit, or 0.55%, to 4,566 ringgita metric ton
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By Reuters

JAKARTA: Malaysian palm oil futures rose on Friday and were on track for their second consecutive weekly gain, supported by strength in rival edible oils at the Dalian market.

The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange gained 25 ringgit, or 0.55%, to 4,566 ringgit ($1,163.02) a metric ton by 0232 GMT.

The futures has booked 4.60% weekly gains so far.

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