Markets
Palm extends gains on weak ringgit, Malaysia's biodiesel plans
- The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange gained 33 ringgit, or 0.71%, to 4,655 ringgit
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KUALA LUMPUR: Malaysian palm oil futures extended gains for a second consecutive session on Tuesday, supported by a weaker ringgit and optimism over Malaysia’s biodiesel plans, though losses in crude oil and soyoil prices capped further upside.
The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange gained 33 ringgit, or 0.71%, to 4,655 ringgit ($1,175.51) a metric ton in early trade.
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