The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange rose 10 ringgit, or 0.27%, to 3,401 ringgit ($836.45) a tonne in early trade.
KUALA LUMPUR: Malaysian palm oil futures inched higher on Tuesday, regaining some ground lost in the previous session, as estimates of lower December production underpinned the market.
The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange rose 10 ringgit, or 0.27%, to 3,401 ringgit ($836.45) a tonne in early trade.
The Southern Palm Oil Millers Association on Monday estimated production during Dec. 1-5 fell 4.2% from the month before, traders said.
A Reuters survey showed production likely declined 10% month-on-month to 1.55 million tonnes in November and stockpile fell 2%.
The Malaysian Palm Oil Board will release official production data on Dec. 10.
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