JAKARTA: Malaysian palm oil futures opened higher on Monday, following two consecutive sessions of gains, underpinned by strength in rival edible oils.

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange went up 19 ringgit, or 0.50%, to 3,794 ringgit ($798.40) a metric ton in the morning trade.

Malaysian palm oil up on higher Dalian prices

The contract posted third consecutive weekly gain of 0.11% on Friday.