The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange was up 2.7 percent at 2,518 ringgit ($618) at the close of trade, its first gain in three sessions and its sharpest rise since July 25. It earlier hit an intraday high of 2,525 ringgit, its highest level in a week, and rose 1.6 percent on the week after six consecutive weekly falls.
KUALA LUMPUR: Malaysian palm oil futures ended a four-session decline with a more than 1 percent gain on Monday evening, rising on the back of bullish sentiment at an industry conference held in Karachi this week.
The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange was up 1.2 percent at 2,475 ringgit ($629.29) a tonne at the end of the trading day, its sharpest daily gain in more than two weeks.
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