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Palm rises more than 1% on firmer crude, Chicago soyoil

  • Palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange gained 73 ringgit, or 1.61%, to 4,608 ringgit
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Photo: Reuters
Photo: Reuters
By Reuters

KUALA LUMPUR: Malaysian palm oil futures rose more than 1% on Wednesday as trading resumed after a long holiday weekend, with stronger crude oil and Chicago soyoil supporting the market.

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange gained 73 ringgit, or 1.61%, to 4,608 ringgit ($1,159) a metric ton in early trade.

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