Malaysian palm oil price rebounds on stronger soyoil ending 3-day losing streak

Malaysian palm oil futures came off near three-month lows to trade higher on Tuesday evening on concerns about a decline in February production, traders say.

KUALA LUMPUR: Malaysian palm oil futures rebounded on Tuesday, up from a five-month low touched in the previous session, tracking a revival in soyoil on the Chicago Board of Trade. 

Benchmark palm oil futures for June delivery on the Bursa Malaysia Derivatives Exchange gained 0.5 percent to 2,707 ringgit ($613.28) a tonne by the end of the day, the first gain in four sessions and the strongest daily rise in a week.