Malaysian palm oil price rises from one-week low, gains on better demand outlook

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange fell 0.6 percent at 2,588 ringgit ($637.44) a tonne at the end of trading, a fourth day of losses out of five. Earlier in the session, the contract hit its strongest level since Nov. 24 at 2,625 ringgit. Traded volumes stood at 34,067 lots of 25 tonnes each on Monday evening.

KUALA LUMPUR: Malaysian palm oil futures rose from a one-week low hit early on Monday, lifted by prospects of better export demand to end the trading day up 0.4 percent.

The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange was up 0.4 percent at 2,515 ringgit ($646.70) a tonne at the close of trade, its second consecutive session of gains. It earlier fell to 2,485 ringgit, its lowest level since Feb. 9.