Malaysian palm oil price hits two-week top on stronger rival oils, firm export demand

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 over 1 percent on Friday evening, rising to a two week high, backed by gains in related edible oils such as soyoil on the U.S. Chicago Board of Trade, and as export demand remains firm.

The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange was up 1.4 percent at 2,523 ringgit ($644.12) a tonne at the close of trade, its strongest daily gain since the start of the year.