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Palm rebounds on stronger rival oils, crude prices, exports

  • Palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange gained 42 ringgit, or 0.93%, to 4,538 ringgit a metric ton
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Photo: Reuters
Photo: Reuters
By Reuters
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KUALA LUMPUR: Malaysian palm oil futures opened higher on Thursday, recovering after two consecutive sessions of losses, buoyed by firmer rival edible oils, crude oil prices and stronger export figures.

The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange gained 42 ringgit, or 0.93%, to 4,538 ringgit ($1,139.06) a metric ton in early trade.

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