Malaysian palm oil price jumps more than 2% on higher demand, stronger soyoil

Malaysian palm oil futures fell over 1 percent on Friday, recording a fifth session of declines in six, tracking weakness in soyoil on the U.S. Chicago Board of Trade (CBOT).

KUALA LUMPUR: Malaysian palm oil futures rose to a more than two-week high on Thursday evening on better demand for the edible oil, moving up for the fourth straight day as they tracked gains in soyoil on the U.S. Chicago Board of Trade.

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was last up 2.5% at 2,096 ringgit ($503.48) a tonne.