Malaysian palm oil price recovers as traders buy at low prices

Malaysian palm oil futures made gains on Friday evening, their first in three sessions

KUALA LUMPUR: Malaysian palm oil futures rose on Thursday, pulling back from a more than 22-month low hit in the previous session, as traders took the opportunity to buy at low prices ahead of Eid festivities during the weekend.

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was up 0.8 percent at 2,336 ringgit ($586.20) per tonne, after logging eight straight sessions of falls.