Malaysian palm oil price jumps to near 3-month top on support from crude oil

Malaysian palm oil futures fell to their lowest in nearly three years on Friday evening in a fourth session of losses, tracking declines in related edible oils.

KUALA LUMPUR: Malaysian palm oil futures jumped to a near three-month high on Friday, charting a second day of gains, buoyed by strong crude oil prices and technical buying.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange was 1.3 percent up at 2,226 ringgit ($541.61) a tonne at the close. It was earlier as high as 2,228 ringgit, its strongest levels since Oct. 23.