The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange was up 1.5 percent at 2,538 ringgit ($621.91) a tonne at the close of trade, its third consecutive day of gains. It earlier rose to 2,541 ringgit, its strongest level since Dec. 18.
KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday May 25.
FUNDAMENTALS
* Malaysian palm oil futures rose to a seven-week high on Thursday evening, tracking gains in U.S. soyoil and supported by a weaker ringgit.
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