Malaysian palm oil price gains on stronger rival oils, improved demand

Malaysian palm oil edged up on Friday evening for its first gain in four sessions on the back of falling production outlook, after earlier hitting its lowest level since August last year on rising global vegetable oil supplies and weak demand..

KUALA LUMPUR: Malaysian palm oil futures rose on Tuesday evening, lifted by strength in rival edible oils and as demand expectations improved, traders said.

"We're seeing a bit of bargain-buying ... Exports could improve as buyers rush to take advantage of Malaysia's tax suspension," said a Kuala Lumpur-based futures trader, referring to a three-month palm oil export tax suspension expected to increase demand and boost prices.