Palm up on stronger rival soyoil, weaker ringgit

KUALA LUMPUR: Malaysian palm oil futures opened higher on Monday, snapping two consecutive sessions of declines, supported by stronger rival soyoil and a weaker ringgit.

Malaysian palm oil higher

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange gained 37 ringgit, or 0.97%, to 3,852 ringgit ($894.36) a metric ton in early trade.