Malaysian palm oil price has strongest rise in two weeks as stocks tighten

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 achieved their biggest daily gains in more than two weeks on Monday, supported by strength in rival oils and expectations that stockpiles will remain tight.

    A weaker ringgit, the currency palm oil is traded in, also supported benchmark prices. It hit its weakest levels against the dollar in nearly four months on Thursday, before paring some losses to strengthen 0.1 percent to 4.1330 on late on Monday.