Malaysian palm oil price climbs following gains in overseas markets

According to Subur Tiasa senior independent director Ngu Ying Ping the company may seek a renewal of the oil palm plantation licence to expand the oil palm plantation operation or venture into plantation of trees that would complement its timber operation.

KUALA LUMPUR: Malaysian palm oil futures edged higher on Friday after two straight sessions of declines, tracking overnight gains in overseas markets and on cargo surveyor data showing strong  exports.

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange was up 0.7 percent at 2,741 ringgit ($648.91) a tonne at the end of Friday, after declining 0.7 percent on Thursday.