Malaysian palm oil price rises after two consecutive weeks of losses

"Lower output in January and short covering are the catalysts behind firmer prices today," said a trader based in Kuala Lumpur. "As February is a short month with long Chinese New Year holidays, major selloffs will be muted temporarily."

KUALA LUMPUR: Malaysian palm oil futures made some gains in Monday trade, rising after two consecutive weeks of losses as a weaker ringgit and improving exports supported the market.

    The palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange strengthened 1 percent, registering its strongest gains in three weeks to reach 2,668 ringgit ($680) per tonne at the close of trade.