Malaysian palm oil price rises after six sessions of losses

Lower production: Export of palm oil products declined by 8.2% in 2016 to 23.29 million tonnes from 25.37 million tonnes a year ago, mainly due to lower production.

KUALA LUMPUR: Malaysian palm oil futures recorded their biggest daily gain in two weeks on Thursday, ending six sessions of losses as they tracked strength in soyoil and were helped by a  technical correction.

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange closed up 1.6 percent at 2,504 ringgit ($569.61) a tonne.