Palm sees first gain in three sessions tracking related edible oils

Malaysian palm oil futures charted their first rise in three sessions on Thursday, tracking gains in the performance of rival edible oils on the Chicago Board of Trade (CBOT) and China's Dalian Commodity Exchange. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was up 1.2 percent at 2,469 ringgit ($575.26) a tonne at the close of trade, its strongest daily gains in two weeks.
Palm, however, is down in the second quarter of the year so far, falling 7.8 percent from the previous quarter. Traded volumes stood at 28,485 lots of 25 tonnes. Palm prices are impacted by the movements of related edible oils as they compete for a share in the global vegetable oils market.