Malaysian palm oil price edges up on stronger crude oil, profit taking

Malaysian palm oil futures made their sharpest daily gains in a month on Thursday, tracking rises in soyoil on the Chicago Board of Trade and supported by a weaker ringgit, traders said

KUALA LUMPUR: Malaysian palm oil futures made gains on Friday evening, their first in three sessions, tracking strength in crude oil prices and as the market saw profit taking in evening trade.

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange rose 0.5 percent to 2,414 ringgit ($619.77) a tonne at the close of trade.