Malaysian palm oil price higher on stronger crude and ringgit

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange was 0.2 percent lower at 2,713 ringgit ($650.13) a tonne at the close of trade, down for a fifth straight session. It had earlier touched its lowest since Oct. 19 at 2,709 ringgit.

KUALA LUMPUR: Malaysian palm oil futures rose on Friday evening, marking a second session of gains in five, buoyed by stronger crude oil prices and a weaker ringgit.

Losses in the ringgit, palm's currency of trade, supported the edible oil by making it cheaper for holders of foreign currencies.