Malaysian palm oil price gains on strong export demand, higher soyoil prices


Crude palm oil being unloaded from tankers

KUALA LUMPUR: Malaysian palm oil futures rose on Tuesday evening in their second consecutive day of gains, helped by strong export data and firmer soyoil prices.

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange was up 1.6 percent at 2,548 ringgit ($589.00) a tonne by the end of the trading day.

Volumes stood at 35,723 lots of 25 tonnes each at the close.

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