Malaysian palm oil price rises for 2nd day on US soyoil gains, improving export demand

The government will draw up new strategies and approaches to combat the anti-palm oil campaign by the European Union (EU) which give negative perceptions of the palm oil industry in this country.

MUMBAI: Malaysian palm oil futures jumped more than 1 percent in early trade on Thursday, supported by gains in rival U.S. soyoil and as a price correction to a near three-year low boosted export demand.

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 1.1 percent at 2,187 ringgit ($539.60) a tonne, after rising 0.5 percent on Wednesday.