Malaysian palm oil price snaps losing streak on improved demand

Malaysian palm oil futures rose on Tuesday evening, lifted by strength in rival edible oils and as demand expectations improved, traders said.

KUALA LUMPUR: Malaysian palm oil futures snapped four earlier sessions of losses to gain on Monday evening on the back of improved demand and a market retracement, according to traders. 

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 0.7 percent at 2,173 ringgit ($537.87) a tonne at the close of trade, its strongest daily gain in over two weeks.