Malaysian palm oil price sees strongest gain in almost 3 weeks on weaker output

In a filing with Bursa Malaysia, IJM said pursuant to the agreement, IPS and the individual shareholder would own 20% and 5% stakes in PT PSS respectively, while KLKPH would own a majority of 75%.

KUALA LUMPUR: Malaysian palm oil futures snapped snap a four-session decline on Friday evening, seeing its strongest gains in nearly three weeks, on a weaker production outlook and tracking overnight gains in U.S. soyoil.

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was up 1.5 percent at 2,284 ringgit ($570.86) per tonne at the close of trade, its strongest intraday gain since July 5.