Malaysian palm oil price hits 6-week peak on stronger crude oil and soyoil

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange was down 0.2 percent at 2,403 ringgit ($617.90) a tonne at the close of trade. It earlier rose as much as 0.7 percent to 2,424 ringgit.

KUALA LUMPUR: Malaysian palm oil futures climbed to a six-week high in evening trade on Tuesday, charting a third session of gains in four, tracking overnight strength in U.S. soyoil and crude oil prices.

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was up 1.3 percent at 2,477 ringgit ($624.64) a tonne at the end of the trading day for its largest percentage gain since May 14.