Malaysian palm oil price rises for a 2nd day on higher export outlook

Malaysian palm oil futures fell on Tuesday, its seventh straight losing session, as bearish palm fundamentals and declining rival oils weighed on the market. (Worker load and arrange palm oil fruits on top of a lorry inside a palm oil factory area in Sungai Besar, Selangor on Monday June 13, 2016.- FAIHAN GHANI/The Star)

KUALA LUMPUR: Malaysian palm oil futures saw a second day of gains on Wednesday due to tight supplies and expectations of stronger export data.    

    Benchmark palm oil futures for November on the Bursa Malaysia Derivatives Exchange rose 0.9 percent to 2,600 ringgit ($644) per tonne at the end of the trading day. It had climbed to 2,623 ringgit, its highest since August 19.