Palm trades in tight range as firmer ringgit weighs on prices

KUALA LUMPUR: Malaysian palm oil futures traded in a tight range on Wednesday, as stronger rival edible oils countered pressure from a firmer ringgit.

The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange gained 2 ringgit, or 0.05%, to 4,038 ringgit ($995.81) a metric ton in early trade. The contract rose 3.35% in the last two sessions.