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Palm opens higher on stronger Chicago soyoil, weaker ringgit

  • The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange gained 29 ringgit, or 0.72%, to 4,045 ringgit
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Photo: Reuters
Photo: Reuters
By Reuters
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KUALA LUMPUR: Malaysian palm oil futures opened higher on Thursday as trading resumed after a two-day Lunar New Year holiday, with stronger Chicago soyoil and a weaker ringgit supporting the market.

The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange gained 29 ringgit, or 0.72%, to 4,045 ringgit ($1,034.00) a metric ton in early trade.

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