Palm oil up on weaker ringgit, short covering lifted sentiment

Malaysian palm oil futures saw their biggest rise in one-and-a-half months on Tuesday, rebounding by nearly 3 percent from sharp losses in the previous session, on a weaker ringgit and expectations of lower future production.

KUALA LUMPUR: Malaysian palm oil futures rose on Tuesday, up from a one-week low touched in the previous session, supported by a decline in the ringgit against the dollar.

    A weaker ringgit lent support to palm but earlier gains were limited due to higher production and slowing exports, said a trader based in Kuala Lumpur.