Malaysian palm oil price rebounds for 2nd day of gains on output decline

Malaysian palm oil futures fell to a four-month low on Wednesday evening, a third consecutive session of losses as the ringgit strengthened against the dollar, making the tropical oil more expensive for holders of foreign currencies

KUALA LUMPUR: Malaysian palm oil futures rose more than 1 percent in afternoon trade on Tuesday, rebounding from a sharp decline earlier in the session, lifted by bullish sentiment on falling production.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange was up 0.8 percent at 2,494 ringgit ($635.41) a tonne at the close for a second consecutive daily gain.