Markets
Palm rises as oil rallies on US-Iran stalemate, Chicago soy firms
- The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange gained 40 ringgit, or 0.88%, to 4,578 ringgit a metric ton
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KUALA LUMPUR: Malaysian palm oil futures opened higher on Monday, supported by a rally in crude oil prices after the US-Iran negotiations collapsed without a deal, while firmer Chicago soyoil prices also lent support.
The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange gained 40 ringgit, or 0.88%, to 4,578 ringgit ($1,153.15) a metric ton in early trade, after falling 2.26% in the previous session.
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