Malaysian palm oil pricerises anticipating lower output growth, gains in soyoil

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.

MUMBAI: Malaysian palm oil futures rose on Friday tracking rival soyoil and on expectations of a marginal rise in the country's palm oil output, although a fall in exports in May capped the gains.

The palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was up 0.41 percent at 2,439 ringgit ($613.28)a tonne by the close.