Palm oil remains higher

JAKARTA: Malaysian palm oil futures gained for a third straight session on Friday after soyaoils rose and palm demand showed signs of improvement, helping the vegetable oil to post its first weekly gain in three weeks. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange was up 2.2% at 2,741 ringgit ($656.84) a tonne by the close of trade, posting its best daily gain in more than a month.

It gained 2.2% for the week, snapping two straight weekly losses. For the month, the contract added 2.4%, its fourth straight monthly gain. Malaysian markets will be closed on Monday for a public holiday.