Palm rises on stronger crude, Chicago soyoil

KUALA LUMPUR: Malaysian palm oil futures edged higher on Thursday, recovering from the previous session’s losses, on the back of stronger crude oil prices and Chicago soyoil, though weaker rival Dalians capped the gains.

The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange gained 40 ringgit, or 0.84%, to 4,809 ringgit ($1,196.27) a metric ton in early trade.