Malaysian palm oil price reverses losses to gain on forecasts of higher exports

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was up 0.3 percent at 2,635 ringgit ($609.95) a tonne at the close. It earlier fell to 2,597 ringgit, its lowest since Tuesday. The contract is however down 0.6 percent for the week, its first weekly decline in three.

KUALA LUMPUR: Malaysian palm oil futures rebounded from early losses on Friday, to rise for a second session in three on expectations of increasing export demand.

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was up 0.3 percent at 2,635 ringgit ($609.95) a tonne at the close.