Malaysian palm oil price touches six-week high, tracking gains in US soyoil

Malaysian palm oil futures fell from a one-week high on Monday evening, weighed down by a stronger ringgit MYR=, which makes the tropical oil more expensive for holders of foreign currencies

KUALA LUMPUR: Malaysian palm oil futures rose to a more than six-week high on Tuesday before paring gains, but still ended higher for a third straight session supported by strength in rival edible oils.

The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange was up 0.1 percent at 2,542 ringgit ($650.79) a tonne at the close of trade.