Malaysian palm oil price gains on improved rival oils, weaker ringgit

Malaysian palm oil futures edged higher on Friday after a run of losses, supported by a weaker ringgit and short covering, although they still marked a second straight weekly loss.

KUALA LUMPUR: Malaysian palm oil futures notched up a second day of gains, tracking rival soyoil, while a weaker ringgit also helped to prop up prices. 

    Benchmark palm oil futures for October delivery on the Bursa Malaysia Derivatives Exchange rose 0.4 percent to close at 2,318 ringgit ($569) per tonne on Wednesday.